The Following Items Were Shown on the Balance Sheet of Easton

question 6

Essay

The following items were shown on the balance sheet of Easton Corporation on December 31, 2018:
Stockholders' equity
Paid-in capital
Capital stock
Common stock, $10 par value, 400,000 shares
authorized; ______ shares issued and ______ outstanding $1,850,000
Additional paid-in capital

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 common stock was issued for a total of $____________.
(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:

Square

A four-sided polygon with all sides of equal length and all angles measuring 90 degrees.

700 Hertz

A frequency of 700 cycles per second, often referenced in acoustics, signaling, or telecommunications.

1000 Hertz

A frequency of sound wave equivalent to 1000 cycles per second, often utilized in audio testing and applications.

Salivation

The secretion of saliva in the mouth, which is triggered by the presence or thought of food, aiding in digestion.