The following amounts were reported by Ebert Corporation on December 31,2009:
$\begin{array}{lr}
\text { Common stock- } \$ 5 \text { par value } & \$ 150,000 \
\text { Additional paid-in capital } & 120,000 \
\text { Treasury stock }(8,000 \text { shares at cost }) & 60,000
\end{array}$
On January 3,2010,5,000 shares of treasury stock were sold.After the sale of the treasury shares,total stockholders' equity amounted to $277,500.No stockholders' equity transactions other than the sale of the treasury stock occurred between December 31,2009,and January 3,2010.From the information given,compute the selling price per share of the treasury stock.

Question

The following amounts were reported by Ebert Corporation on December 31,2009:
 $\begin{array}{lr}
\text { Common stock- } \$ 5 \text { par value } & \$ 150,000 \
\text { Additional paid-in capital } & 120,000 \
\text { Treasury stock }(8,000 \text { shares at cost }) & 60,000
\end{array}$
 On January 3,2010,5,000 shares of treasury stock were sold.After the sale of the treasury shares,total stockholders' equity amounted to $277,500.No stockholders' equity transactions other than the sale of the treasury stock occurred between December 31,2009,and January 3,2010.From the information given,compute the selling price per share of the treasury stock.

Quizplus · Accepted Answer

The Answer of The following amounts were reported by Ebert Corporation on December 31,2009:
 $\begin{array}{lr}
\text { Common stock- } \$ 5 \text { par value } & \$ 150,000 \
\text { Additional paid-in capital } & 120,000 \
\text { Treasury stock }(8,000 \text { shares at cost }) & 60,000
\end{array}$
 On January 3,2010,5,000 shares of treasury stock were sold.After the sale of the treasury shares,total stockholders' equity amounted to $277,500.No stockholders' equity transactions other than the sale of the treasury stock occurred between December 31,2009,and January 3,2010.From the information given,compute the selling price per share of the treasury stock.

The Following Amounts Were Reported by Ebert Corporation on December