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The following amounts were reported by Ebert Corporation on December 31,2009:
On January 3,2010,5,000 shares of treasury stock were sold.After the sale of the treasury shares,total stockholders' equity amounted to $277,500.No stockholders' equity transactions other than the sale of the treasury stock occurred between December 31,2009,and January 3,2010.From the information given,compute the selling price per share of the treasury stock.
Debit
An accounting entry that increases asset or expense accounts, or decreases liability, equity, or revenue accounts.
Credit
Credit in finance represents a contractual agreement in which a borrower receives something of value now and agrees to repay the lender at a later date, often with interest.
Transaction
A financial event that changes the balance of two or more accounts.
Debt Ratio
Debt ratio is a financial ratio that measures the extent of a company's leverage by comparing its total debt to its total assets.
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