Answer:
$22,000 Credit balance
Explanation:
Calculation to determine the ending balance
First step is prepare the Journal entries
Dr Treasury stock $416,000
Cr Cash $416,000
(26,000 shares*$16 per share)
Dr Cash $161,000
(7,000*$23)
Cr Teasury stock $112,000
($16 per *7,000)
Cr Additional Paid-in Capital $49,000
($161,000-$112,000)
Dr Cash $117,000
(9,000*$13)
Dr Additional Paid-in Capital $27,000
($144,000-$117,000)
Cr Teasury stock $144,000
($16*9,000)
Now let calculate the Ending balance
Ending balance=-$49,000+$27,000
Ending balance=-$22,000 Credit balance
Therefore the Ending balance is $22,000 Credit balance
