Homework Answers
1. Option d - 27,000 shares
Explanation: Shares issued (-) Treasury Shares = 30,000 shares (-) 3,000 shares = 27,000 shares.
2. Option c - $70.00 per share
Explanation: (Paid up capital + Capital in excess of par) / Issued shares = ($25,000 + $10,000) / 500 shares = $70.00 per share.
3. Option c - You cannot tell with the information provided
Explanation: Although, the total retained earnings is positive, it cannot be concluded that the company was profitable in the past since the components of retained earnings are not available.
4. Option b - Additional paid in capital from treasury stock transactions of $3,000
Explanation: Gain on sale of treasury stock cannot be recorded in the income statement. It will be recorded as a additional paid in capital under shareholder's equity.
5. The entire question is not visible in the image uploaded and hence the same cannot be answered. Request you to re-post the question. Thank You.
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Christy Company reported the folowing stockolderyqty ems for 0 Preferred stock, $s0 par, authorised 2,00 shares...
$5 Par Common $10 Par Preferred Additional paid-in capital $2,250,000 $50,000 Shares: Authorized 750,000 40,000 Issued...
$5 Par Common $10 Par Preferred Additional paid-in capital $2,250,000 $50,000 Shares: Authorized 750,000 40,000 Issued 300,000 8,000 Outstanding 250,000 8,000 Retained earnings is $1,837,000, and the cost of treasury shares is $1,200,000. Required: Prepare the stockholders' equity portion of Renee's balance sheet. Accounts, Labels and Amount Descriptions Accounts Common stock Common stock, $5 par, 750,000 shares authorized, 300,000 shares issued, and 250,000 shares outstanding Preferred stock Preferred stock, $10 par, 40,000 shares authorized, 8,000 shares issued and outstanding Retained...
Calculator Preferred 24 Stock, $200 par (70,000 shares authorized, 35,000 shares issued) $7,000,000 Pald-In Capital in...
Calculator Preferred 24 Stock, $200 par (70,000 shares authorized, 35,000 shares issued) $7,000,000 Pald-In Capital in Excess of Par-Preferred Stock 340,000 Common Stock, $20 par (500,000 shares authorized, 310,000 shares issued) 6,200,000 Pald-in Capital in Excess of Par-Common Stock 810,000 Retained Earnings 31,482,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 50,000 shares of common stock at $27, receiving cash. b. Issued 18,000 shares of preferred 2%...
Preferred stock- $25 par value, 10,eee shares authorized, 6,800 shares issued and outstanding Common stock-$10 par...
Preferred stock- $25 par value, 10,eee shares authorized, 6,800 shares issued and outstanding Common stock-$10 par value, 100,00e shares authorized, 80,0e0 shares issued and outstanding Total paid-in' capital Retained earnings Total stockholders' equity $ 170, eee 800,e00 $ 970,000 550,e00 $1,520,000 The number of issued and outstanding shares of both preferred and common stock have been the same for the last two years Dividends on preferred stock are 8 percent of par value and have been paid each year the...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000 In excess of par on preferred stock $ 300,000 Total Paid-in-Capital from Preferred Stock $ 3,300,000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized. 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid-in-Capital from Common Stock $ 10,600,000 Total Paid-in-Capital $ 13,900,000 Retained Earnings (Note A) $ 4,100,000 Total Stockholder's Equity $...
Dividends Per Share Windborn Company has 15,000 shares of cumulative preferred 2% stock, $100 par and...
Dividends Per Share Windborn Company has 15,000 shares of cumulative preferred 2% stock, $100 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends: 20Y1 $75,000 12,000 20Y2 2013 90,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter 'o'. Preferred Stock (dividends per share) $ 0.2 x Common Stock (dividends per share) 20Y1 2092 20Y3 Reporting...
Please explain! Hatch Company has two classes of capital stock outstanding: 8%, $20 par preferred and...
Please explain!
Hatch Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 150,000 shares Common Stock, 2,000,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings $3,000,000 10,000,000 200,000 27,000,000 4,500,000 The following transactions affected stockholders' equity during 2021. Jan. 1 30,000 shares of preferred stock issued at $22 per share....
Preferred Stock: 10%, $200 par value; 7,000 shares authorized; 3,200 shares issued and outstanding; Paid-in Capital...
Preferred Stock: 10%, $200 par value; 7,000 shares authorized; 3,200 shares issued and outstanding; Paid-in Capital in Excess of Par Value—Preferred Stock, $9,600. Common Stock: $60 par value; 20,000 shares authorized; 9,500 shares issued and outstanding; Paid-in Capital in Excess of Par Value—Common Stock, $11,400. Retained Earnings: Total, $125,000; appropriated for warehouse construction, $50,000. Using this information, prepare the Stockholders’ Equity section of the corporation’s balance sheet
31, Stockholders Equity: Preferred stock ($50 par) Common stock ($0.10 par) Additional Paid in capital Total...
31, Stockholders Equity: Preferred stock ($50 par) Common stock ($0.10 par) Additional Paid in capital Total paid in capital Retained earnings Treasury stock (5,000 common shares) Total stockholders' equity $500,000 30,000 7,520,000 8,050,000 610,100 (150,000) $8,510,100 1. How many shares of preferred stock have been issued? 2a. How many shares of common stock have been issued? 2b. How many of the common shares are outstanding? 3. If the common shares were issued at $25 per share, at what average price...
Pelletier Corporation has the following stock outstanding: Preferred Stock (6 percent, $10 par, 45,000 shares authorized,10,000...
Pelletier Corporation has the following stock outstanding: Preferred Stock (6 percent, $10 par, 45,000 shares authorized,10,000 shares issued and outstanding) Common Stock ($7 par, 250,000 shares authorized, 120,000 shares issued and outstanding) $100,000 840,000 Given this information, if Pelletier pays a $9,000 cash dividend, and if the preferred stock is noncumulative, common stockholders will receive $9,000 b. $3,000 $6,000 d. $4,500 a C.
Sheffield Company has two classes of capital stock outstanding: 7%, $100 par preferred and $2 par...
Sheffield Company has two classes of capital stock outstanding: 7%, $100 par preferred and $2 par common. At December 31, 2017, the following accounts were included in stockholders’ equity. Preferred Stock, 50,000 shares$ 5,000,000 Common stock, 1,200,000 shares2,400,000 Paid-in Capital in Excess of Par – Preferred Stock300,000 Paid-in Capital in Excess of Par – Common Stock28,800,000 Retained Earnings12,800,000 The following transactions affected stockholders’ equity during 2018. Jan. 1-500 shares of preferred stock issued at $ 108 per share. Mar. 21-110,000...
$5 Par Common $10 Par Preferred Additional paid-in capital $2,250,000 $50,000 Shares: Authorized 750,000 40,000 Issued 300,000 8,000 Outstanding 250,000 8,000 Retained earnings is $1,837,000, and the cost of treasury shares is $1,200,000. Required: Prepare the stockholders' equity portion of Renee's balance sheet. Accounts, Labels and Amount Descriptions Accounts Common stock Common stock, $5 par, 750,000 shares authorized, 300,000 shares issued, and 250,000 shares outstanding Preferred stock Preferred stock, $10 par, 40,000 shares authorized, 8,000 shares issued and outstanding Retained...
Calculator Preferred 24 Stock, $200 par (70,000 shares authorized, 35,000 shares issued) $7,000,000 Pald-In Capital in Excess of Par-Preferred Stock 340,000 Common Stock, $20 par (500,000 shares authorized, 310,000 shares issued) 6,200,000 Pald-in Capital in Excess of Par-Common Stock 810,000 Retained Earnings 31,482,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 50,000 shares of common stock at $27, receiving cash. b. Issued 18,000 shares of preferred 2%...
Preferred stock- $25 par value, 10,eee shares authorized, 6,800 shares issued and outstanding Common stock-$10 par value, 100,00e shares authorized, 80,0e0 shares issued and outstanding Total paid-in' capital Retained earnings Total stockholders' equity $ 170, eee 800,e00 $ 970,000 550,e00 $1,520,000 The number of issued and outstanding shares of both preferred and common stock have been the same for the last two years Dividends on preferred stock are 8 percent of par value and have been paid each year the...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000 In excess of par on preferred stock $ 300,000 Total Paid-in-Capital from Preferred Stock $ 3,300,000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized. 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid-in-Capital from Common Stock $ 10,600,000 Total Paid-in-Capital $ 13,900,000 Retained Earnings (Note A) $ 4,100,000 Total Stockholder's Equity $...
Dividends Per Share Windborn Company has 15,000 shares of cumulative preferred 2% stock, $100 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends: 20Y1 $75,000 12,000 20Y2 2013 90,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter 'o'. Preferred Stock (dividends per share) $ 0.2 x Common Stock (dividends per share) 20Y1 2092 20Y3 Reporting...
Please explain!
Hatch Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 150,000 shares Common Stock, 2,000,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings $3,000,000 10,000,000 200,000 27,000,000 4,500,000 The following transactions affected stockholders' equity during 2021. Jan. 1 30,000 shares of preferred stock issued at $22 per share....
31, Stockholders Equity: Preferred stock ($50 par) Common stock ($0.10 par) Additional Paid in capital Total paid in capital Retained earnings Treasury stock (5,000 common shares) Total stockholders' equity $500,000 30,000 7,520,000 8,050,000 610,100 (150,000) $8,510,100 1. How many shares of preferred stock have been issued? 2a. How many shares of common stock have been issued? 2b. How many of the common shares are outstanding? 3. If the common shares were issued at $25 per share, at what average price...
Pelletier Corporation has the following stock outstanding: Preferred Stock (6 percent, $10 par, 45,000 shares authorized,10,000 shares issued and outstanding) Common Stock ($7 par, 250,000 shares authorized, 120,000 shares issued and outstanding) $100,000 840,000 Given this information, if Pelletier pays a $9,000 cash dividend, and if the preferred stock is noncumulative, common stockholders will receive $9,000 b. $3,000 $6,000 d. $4,500 a C.
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