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The stockholders’ equity section on the 12/31/08 balance sheet of Wheat Corporation was: Stockholders’ Equity Contributed capital: Common stock, $?? par value, authorized 26,000 shares; issued 8,000 shares; outstanding 6,500 shares ………………………………………………………………… $26,000 Preferred stock, par value $50, authorized ….. 20,000 Shares;

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issued and outstanding, 10,000 shares ……….. 500,000 Contributed capital in excess of par, common ………….. 13,000 Contributed capital in excess of par, preferred ……. 10,000 Contributed capital, treasury stock transactions ….. 3,000 Retained Earnings ………………………………………………… 326,000 Cost of treasury stock, common ………………………………… 4,500 REQUIRED 1. What was the par value of the common stock? 2. What is the number of shares held as treasury stock? 3. If common stock was issued only once, what was the issue price per share? 4. How much did the treasury stock held cost per share? 5. How much is total stockholder’ equity? Get Accounting Help Today