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Crumb Cookie Company's charter allows it to sell 250,000shares of $2 par value common stock. To date, the firm has sold 100,000 shares fora total of $600,000. Crumb Cookie has reacquired 4,000 shares from shareholders at a price of$8 per share. Retained earnings are $250,000.

a. What total amount of contributed capital should Crumb Cookiereport?

b. What amount should be reported for the Common Stock account?

c. What was the average selling price of each share of commonstock?

d. How many shares of stock are outstanding?

e. What amount should be reported for stockholders' equity?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9796894

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