During 2011 the corporation had the following transactions, Ask an Expert

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During 2011, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 25,000 shares of common stock for $100,000. Apr. 14 Sold 6,000 shares of treasury stock-common for $33,000. Sept. 3 Issued 5,000 shares of common stock for a patent valued at $30,000. Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $6,000. Dec. 31 Determined that net income for the year was $452,000. No dividends were declared during the year.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9945178

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