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  • Early in 2009 Feller Corporation Was Formed With Authorization To

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    Early in 2009, Feller Corporation was formed and issued 50,000 shares of $1 par value common stock at $8 per share. The company reported net income of $82,000 in 2009, $25,000 in 2010, and $78,000 in 2011 but did not declare any dividends. In 2010, the company purchased $35,000 of its own stock and in 2011 reissued the treasury stock for $40,000.

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    Early in 2009, Feller Corporation was formed and issued 50,000 shares of $1 par value common stock at $8 per share. The company reported net income of $82,000 in 2009, $25,000 in 2010, and $78,000 in 2011 but did not declare any dividends. In 2010, the company purchased $35,000 of its own stock and in 2011 reissued the treasury stock for $40,000.

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    16 views1 page

    Early in 2009 Feller Corporation Was Formed With Authorization To

    Uploaded by

    trilocksp Singh
    Early in 2009, Feller Corporation was formed and issued 50,000 shares of $1 par value common stock at $8 per share. The company reported net income of $82,000 in 2009, $25,000 in 2010, and $78,000 in 2011 but did not declare any dividends. In 2010, the company purchased $35,000 of its own stock and in 2011 reissued the treasury stock for $40,000.

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    © All Rights Reserved
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    Early in 2009 Feller Corporation was formed with

    authorization to
    Early in 2009, Feller Corporation was formed with authorization to issue 50,000 shares of $1 par
    value common stock. All shares were issued at a price of $8 per share. The corporation
    reported net income of $82,000 in 2009, $25,000 in 2010, and $78,000 in 2011. No dividends
    were declared in any of these three years.In 2010, the company purchased its own shares for
    $35,000 in the open market. In 2011, it reissued all of its treasury stock for
    $40,000.Instructionsa. Prepare the stockholders’ equity section of the balance sheet at
    December 31, 2011. Include a supporting schedule showing your computation of retained
    earnings at the balance sheet date.b. As of December 31, compute the company’s book value
    per share of common stock.c. Explain how the treasury stock transactions in 2010 and 2011
    were reported in the company’s statement of cash flows.View Solution:
    Early in 2009 Feller Corporation was formed with authorization to
    SOLUTION-- http://solutiondone.online/downloads/early-in-2009-feller-corporation-was-formed-
    with-authorization-to/

    Unlock answers here solutiondone.online


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