Accounting for Shares: Issuing, Repurchasing, and Reissuing Stock

Question 1 Issued Shares by Flowers Gaming Description Debit Credit Cash 35 million shares*$16 $560 Million Treasury Stock Cost $560 million Reacquired shares Description Debit Credit Treasury Stock Cost (1 shares*$14) $14 Million Cash $14 Million Second Reacquired Shares Description Debit Credit Cash (1 million*$19) $19 million Treasury Stock Cost (1 million*16) $16 million Additional Paid In (1 million*$3) $3 million Question 2 Reacquired shares= 2000000*70=$140000000 Description Debit Credit Treasury Stock Cost 140000000 Cash 140000000 1000000*71=$71000000 Description Debit Credit Cash 71000000 Treasury Stock Cost 70000000 Additional Paid In 1000000 ` 1000000*67=$67000000 Descript