Problem 15-2 (Part Level Submission) Marin Company had the following stockholder
ID: 2430556 • Letter: P
Question
Problem 15-2 (Part Level Submission) Marin Company had the following stockholders' equity as of January 1, 2017. Common stock, $5 par value, 19,100 shares issued Paid-in capital in excess of par-common stock Retained earnings $95,500 304,000 314,000 $713,500 Total stockholders' equity During 2017, the following transactions occurred. Feb. 1 Marin repurchased 2,150 shares of treasury stock at a price of $20 per share. Mar. 1 720 shares of treasury stock repurchased above were reissued at $18 per share. Mar. 18 530 shares of treasury stock repurchased above were reissued at $13 per share. Apr. 22630 shares of treasury stock repurchased above were reissued at $22 per share.Explanation / Answer
MARIN COMPANY Stockholder Equity Common stock, $5 par value 19,900 shares outstanding 95500 Paid in capital in excess of par -Common 304000 Paid in capital from treasury stock 1250 Total Paid in capital 400750 Retained Earnnings 129600-1440-3710+314000 438450 839200 Less Treasury Stock 43000-14400-10600-12600 5400 Total Stockholders Equity 433050