Calculate the amount of paid-in capital from treasury stock

Assignment Help Accounting Basics
Reference no: EM132073623

Question - Renfro Corporation started business in 1999 by issuing 200,000 shares of $20 par common stock for $36 each. In 2004, 20,000 of these shares were purchased for $52 per share by Renfro Corporation and held as treasury stock. On June 15, 2008, these 20,000 shares were exchanged for a piece of property that had an assessed value of $810,000. Renfro's stock is actively traded and had a market price of $60 on June 15, 2008. The cost method is used to account for treasury stock. Calculate the amount of paid-in capital from treasury stock transactions resulting from the above events?

Reference no: EM132073623

Questions Cloud

How many shares of common stock are outstanding : Hermann Enterprises reported the following information at December 31: Retained earnings 17,000. How many shares of common stock are outstanding
What the payment on the credit union loan would be : Rico needs approximately $2,500 to buy a new computer. A two-year unsecured loan through the credit union is available for 12.00 percent interest.
Spatial and functionality operational requirements : Write a 1500 word essay in which you analyse the spatial and functionality operational requirements for the three different conference
Discuss the accomplishments in the renaissance era : Discuss the accomplishments, education, and family life about the following women in the renaissance era: Catherine de' Medici, Isabella d' Esta.
Calculate the amount of paid-in capital from treasury stock : The cost method is used to account for treasury stock. Calculate the amount of paid-in capital from treasury stock transactions resulting from the above events
What is the cross-rate in terms of yen per pound : Suppose the Japanese yen exchange rate is ¥76 = $1, and the British pound exchange rate is £1 = $1.55. What is the cross-rate in terms of yen per pound?
Is the security fairly priced under priced or over priced : The risk free rate is 3%. The expected return of market portfolio is 8%. There is a security with current price being 30 dollars. Its beta is 0.6.
Determine last years margin of safety in sales dollars : Assume a local Cost Cutters provides cuts, perms, and hairstyling services. Determine last year's margin of safety in sales dollars
What is the maximum net profit that the buyer : What is the maximum net profit (“payoff”) that the buyer of these options can make ?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd