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The Following Items Were Shown on the Balance Sheet of Westwind

question 52

Essay

The following items were shown on the balance sheet of Westwind Corporation on December 31 2017: The following items were shown on the balance sheet of Westwind Corporation on December 31 2017:   Instructions Complete the following statements and show your computations. (a) The number of shares of common stock issued was _______________. (b) The number of shares of common stock outstanding was ____________. (c) The sales price of the common stock when issued was $____________. (d) The cost per share of the treasury stock was $_______________. (e) The average issue price of the common stock was $______________. (f) Assuming that 25% of the treasury stock is sold at $20 per share the balance in the Treasury Stock account would be $_______________. Instructions
Complete the following statements and show your computations.
(a) The number of shares of common stock issued was _______________.
(b) The number of shares of common stock outstanding was ____________.
(c) The sales price of the common stock when issued was $____________.
(d) The cost per share of the treasury stock was $_______________.
(e) The average issue price of the common stock was $______________.
(f) Assuming that 25% of the treasury stock is sold at $20 per share the balance in the Treasury Stock account would be $_______________.


Definitions:

Loan

A borrowed amount of money that should be returned along with an additional interest payment.

Nominal Interest Rate

The stated annual interest rate on which the compound-interest calculation is based.

Annually Compounded

Interest on an investment that is calculated once a year on both the initial principal and the accumulated interest from previous periods.

Nominal Rate

The annual interest rate not adjusted for inflation or the compounding of interest.

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