Tennstedt Company had the following stockholders' equity section:
Capital stock, par $1...
Tennstedt Company had the following stockholders' equity section:
Capital stock, par $10 (40,000 shares issued)
$400,000
Capital in excess of par value
115,000
Retained earnings, balance January 1, 2019
185,000
Revenues earned during 2019
800,000
Expenses (excluding income tax) incurred during 2019
640,000
Cash dividends declared and pain during 2019
60,000
Treasury stock (4,000 shares)
58,000
Income tax rate 30%
At what amount per share was the treasury stock purchased?
a.) $12.88.
b.) $10.00.
c.) $14.50.
d.) $15.00.
e.) Cannot determine with the information provided
Answers: 1
Business, 22.06.2019 00:00
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