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(Treasury Stock Transactions and Presentation) Clemson Company had the following stockholders' equity as of January 1, 2012.
Common stock, $5 par value, 20,000 shares issued $100,000
Paid-in capital in excess of par-common stock 300,000
Retained earnings 320,000
Total stockholders' equity $720,000
During 2012, the following transactions occurred.
1 FEB Clemson repurchased 2,000 shares of treasury stock at a price of $19 per share.
1 MAR 800 shares of treasury stock repurchased above were reissued at $17 per share.
18 MAR 500 shares of treasury stock repurchased above were reissued at $14 per share.
22 APR 600 shares of treasury stock repurchased above were reissued at $20 per share.
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