Homework Answers
Answer to Part 1.
Number of Preferred Stock issued = Total Preferred Stock Issued Capital / Par Value per Preferred Stock
Number of Preferred Stock issued = $120,000/ $30
Number of Preferred Stock issued = 4,000 Shares
Answer to Part 2.
Number of Preferred Stock Outstanding = Number of Preferred Stock issued - Number of Treasury Stock, Preferred stock
Number of Preferred Stock Outstanding = 4,000 - 100
Number of Preferred Stock Outstanding = 3,900 shares
Answer to Part 3.
Average sale price of Preferred Stock = (Preferred Stock Issued Capital + Additional paid-in capital- Preferred Stock)/ Number of Preferred Stock Outstanding
Avg sale price of Preferred Stock=($120,000+$6,000)/4,000
Avg Sale Price of Preferred Stock = $31.50
Answer to Part 4.
Par Value of Common stock = Total Common Stock issued Capital/ Number of Common Stock issued
Par Value of Common stock = $70,000/ 7,000
Par Value of Common stock = $10.00
Answer to Part 5.
Avg Sale Price of Common Stock = (Total Common Stock issued Capital + Additional Paid-in capital, Common Stock)/ Number of Common stock issued
Avg sale price of Common stock = ($70,000 +$560,000)/7,000
Avg Sale Price of Common stock = $90.00
Answer to Part 6.
Cost per Treasury Stock = Total Treasury Stock/ Number of Treasury Stock
Cost per Treasury Stock = $3,200/ 100
Cost per Treasury Stock = $32.00
Answer to Part 7.
Total Stockholders' Equity = Total Contributed Capital + Retained Earnings - Treasury Stock
Total Stockholders' Equity = $757,000 + $40,000 - $3,200
Total Stockholders' Equity = $793,800
Answer to Part 8.
Per Share Book Value of Common stock = (Total Common Stock issued Capital + Additional Paid-in capital- Common Stock + Retained Earnings)/ Number of Common stock issued
Per share book Value of Common stock = ($70,000 + $560,000 + $40,000)/ 7,000
Per Share Book Value of Common stock = $95.71
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