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The total stockholder equity of Hale Corporation is 6450000 2 Glavine issues 6000 shares of its ss common stock having a fair value s25 per share and 9000 shares

The total stockholders' equity of Hale Corporation is A) B) S7,950,000. C) D) $6,450,000. 24. Glavine issues 6.000 shares of its ss common stock having a fair value s25 per share and 9,000 shares of its s15 preferred per share par value stock having a fair value allocated to common a lump stock sum is of s310,000. The proceeds A) $124,000 B) $140,909 C) $150,000 D) $169,091 25. Long Co. issued 100,000 shares of s10 par common stock for si,200,000. A year later Long acquired 16,000 shares of its own common stock at $15 per share. Three months later Long sold 8,000 of these shares at $19 per share. If the cost method is used to record treasury stock transactions, to record the sale of the 8,000 treasury shares, Long should credit A) Treasury Stock for S152,000. B) Treasury Stock for $80,000 and Paid-in Capital from Treasury Stock for $72,000. C) Treasury Stock for $120,000 and Paid-in Capital from Treasury Stock for S32,000. D) Treasury Stock for $120,000 and Paid-in Capital in Excess of Par for $32,000. Page 10

 
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Mar 17 2020 Read more Less More

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