Reference no: EM132594973
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 retained earnings account at January 31, 2020.
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