Balance of the treasury stock
Course:- Accounting Basics
Reference No.:- EM13147369

Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Accounting Basics

Grant, Inc. had 40,000 shares of treasury stock ($10 par value) at December 31, 2010, which it acquired at $11 per share. On June 4, 2011, Grant issued 20,000 treasury shares to employees who exercised options under Grant's employee stock option plan. The market value per share was $13 at December 31, 2010, $15 at June 4, 2011, and $18 at December 31, 2011. The stock options had been granted for $12 per share. The cost method is used. What is the balance of the treasury stock on Grant's balance sheet at December 31, 2011?

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
DeWeese Corporation issues $400,000 of 8%, 5-year bonds on January 1, 2010, at 105. Assuming that the straight-line method is used to amortize the premium, what is the total a
To raise operating funds, Signal Aviation sold an airplane on January 1, 2013, to a finance company for $1,030,000. Signal immediately leased the plane back for a 10-year pe
Small business. The director of a small business development center located in a mid-sized city is reviewing data about its clients. In particular, she is interested in ex-
On August 15, 2014, Cubs Corp. purchases 5,000 shares of common stock in Sox Inc. at a market price of $15 per share. In addition, Cubs pays brokerage fees of $1,000. On Oct
For tax purposes, the corporation has elected to take advantage of the maximum benefit for expensing organizational costs. No additional book/tax differences exist. For the
Cognitive Behavioral Therapy can be effective in helping older adults in life because "Cognitive-behavioral therapy (CBT) is a popular and em­pirically supported treatment f
Commercial accounting and generally accepted accounting principles, generally prescribe the accrual basis of accounting over the cash basis. Describe both bases of accounting
(Comprehensive Income) C. Reither Co. reports the following information for 2004: sales revenue $700,000; cost of goods sold $500,000; operating expenses $80,000; and an unrea