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The following data has been collected about Keller Company's stockholders' equity accounts: Common stock $10 par value 20,000 shares authorized and 10,000 shares issued, 9,000 shares outstanding $100,000 Paid-in capital in excess of par value, common stock 50,000 Retained earnings 25,000 Treasury stock 11,500 Assuming the treasury shares were all purchased at the same price, the cost per share of the treasury stock is: $10
The following data has been collected about Keller Company's stockholders' equity accounts:
| Common stock $10 par value 20,000 shares authorized and 10,000 shares issued, 9,000 shares outstanding | $100,000 |
| Paid-in capital in excess of par value, common stock | 50,000 |
| Retained earnings | 25,000 |
| Treasury stock | 11,500 |
Assuming the treasury shares were all purchased at the same price, the cost per share of the treasury stock is:
$10.50.
$10.00.
$11.50.
$1.15.
$1.28.
Expert Solution
treasury shares outstanding=(Shares issued-Shares oustanding)
=(10000-9000)=1000 shares
treasury shares/share=($11500/1000)
=$11.50
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