Calculate the balance in paid-in capital-treasury account

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At January 1, 2020, JYA Corporation had outstanding 6,000 shares of 5%, $30 par value preferred stock and 36,000 shares of $8 par value common stock.

The stockholders' equity account balances of JYA Corporation at January 1, 2020 are given below:

January 1, 2020

Preferred stock ...................... $180,000
Paid-in capital - preferred stock .... $102,000
Common stock ......................... $288,000
Paid-in capital - common stock ....... $216,000
Retained earnings .................... $111,000
Total stockholders' equity ......... $897,000

During January, JYA Corporation entered into the following transactions:

January 6:      Re-acquired 19,000 of the common shares for $14 per share

January 11: Re-issued 2,000 of the shares re-acquired on  January 6 for $16 per share

January 14:     Re-issued 3,000 of the shares re-acquired on January 6 for $11.25 per share

January 18: Issued 7,600 previously un-issued common shares for $15 per share

January 22: Re-issued 4,000 of the shares re-acquired on January 6 for $19 per share

January 28: Re-issued 5,000 of the shares re-acquired on January 6 for $12.80 per share

Question 1: Calculate the balance in the paid-in capital - treasury account at January 31, 2020.

Reference no: EM132594969

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