Reference no: EM132930494
Question - On January 1, 2037, V9d7a Company's stockholders' equity appeared as follows:
Common stock, $14 par, 26,000 shares outstanding $364,000
Paid-in capital - common stock $253,000
Retained earnings $168,000
Total stockholder's equity $785,000
During 2037, V9d7a Company entered into the following transactions:
March 1: Re-acquired 9,000 shares of its common stock by paying $25 per share.
May 14: Re-issued 1,500 of the shares that were re-acquired on March 1 for $20 per share.
July 30: Re-issued 1,800 of the shares that were re-acquired on March 1 for $29 per share.
October 1: Re-issued 2,400 of the shares that were re-acquired on March 1 for $17 per share.
November 9: Declared and paid a dividend to its stockholders in the amount of $76,000.
V9d7a Company earned a net income of $125,000 during 2037.
Calculate the treasury stock account balance treasury stock account balance at December 31, 2037 at December 31, 2037.