How microsoft took part in the transactions

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Reference no: EM132476270

Question 1: Microsoft is authorized to issue 50,000 shares of $12 par value common stock. During 2015, Microsoft took part in the following transactions.

Point 1. Issued 5,000 shares of stock at $49 per share, less costs related to the issuance of the stock totaling $12,000.

Point 2. Issued 1,000 shares of stock for land appraised at $50,000. The stock was actively traded on a national stock exchange for $46 per share on the date of the exchange.

Point 3. Purchased 500 shares of treasury stock at $45 per share. The treasury shares purchased were issued in 2010 at $40 per share.

Reference no: EM132476270

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