(2) Philomina sold 45 shares at Rs. 120 market price. She invested the
amount she got in shares at Rs. 75 market price. How many shares
did she get?
(A) 100
(B) 80
(C) 72
(D) 75
Answers
Step-by-step explanation:
The Huntsman Corporation has the following stockholders’ equity accounts:
Preferred Stock
Paid-in Capital in Excess of Par Value—Preferred Stock
Common Stock
Paid-in Capital in Excess of Stated Value—Common Stock
Retained Earnings
Treasury Stock—Common
Classify each account using the following tabular alignment. (Put an “X” in the correct column)
5. The corporate charter of Torres Corporation allows the issuance of a maximum of 4,000,000 shares
of $1 par value common stock. During its first three years of operation, Torres issued 2,080,000 shares
at $15 per share. It later acquired 80,000 of these shares as treasury stock for $25 per share.
Based on the above information, answer the following questions:
(a) How many shares were authorized?
(b) How many shares were issued?
(c) How many shares are outstanding?
(d) What is the balance of the Common Stock account?
(e) What is the balance of the Treasury Stock account?
Paid-in Capital
Account Capital Stock Additional Retained
Earnings
Other
Preferred Stock
Paid-in Capital in Excess of
Par Value—Preferred Stock
Common Stock
Paid-in Capital in Excess of
Stated Value—Common
Stock
Retained Earnings
Treasury Stock—CommonThe Huntsman Corporation has the following stockholders’ equity accounts:
Preferred Stock
Paid-in Capital in Excess of Par Value—Preferred Stock
Common Stock
Paid-in Capital in Excess of Stated Value—Common Stock
Retained Earnings
Treasury Stock—Common
Classify each account using the following tabular alignment. (Put an “X” in the correct column)
5. The corporate charter of Torres Corporation allows the issuance of a maximum of 4,000,000 shares
of $1 par value common stock. During its first three years of operation, Torres issued 2,080,000 shares
at $15 per share. It later acquired 80,000 of these shares as treasury stock for $25 per share.
Based on the above information, answer the following questions:
(a) How many shares were authorized?
(b) How many shares were issued?
(c) How many shares are outstanding?
(d) What is the balance of the Common Stock account?
(e) What is the balance of the Treasury Stock account?
Paid-in Capital
Account Capital Stock Additional Retained
Earnings
Other
Preferred Stock
Paid-in Capital in Excess of
Par Value—Preferred Stock
Common Stock
Paid-in Capital in Excess of
Stated Value—Common
Stock
Retained Earnings
Treasury Stock—Common