ZuoTi.Pro
Question

The stockholders' equity section of the balance sheet on December 31, 2019 follows: Common stock, $4...

The stockholders' equity section of the balance sheet on December 31, 2019 follows:

Common stock, $4 par, 25,000 shares authorized                         $ 88,000

Additional paid-in capital                                                                 176,000

Treasury stock, 1,400 shares at cost                                                  28,000

Retained earnings                                                                             105,000

Total stockholders' equity                                                                      $ ?

  1. How many shares of common stock are outstanding?
  2. How many shares of common stock will receive dividends if dividends are declared?
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Answers

  • Requirement [A}
    Shares outstanding = shares issued – treasury shares
    = ($88000 / $ 4 par) – 1400 shares
    = 22000 - 1400
    = 20,600 shares
  • [b]
    Dividend is given to shares outstanding only.
    No of shares that will receive dividend = 20,600 shares.
0 0
Add a comment
Know the answer?
Add Answer to:
The stockholders' equity section of the balance sheet on December 31, 2019 follows: Common stock, $4...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • The stockholders' equity section of Apples balance sheet as of December 31, 2018 is as follows:...

    The stockholders' equity section of Apples balance sheet as of December 31, 2018 is as follows: Stockholders' Equity - Preferred Stock, 4% $100 par value, 100,000 shares authorized and 5000 shares issued and outstanding = $500,000 - Common stock, $10 par value; authorized, 2,000,000 shares auth; issued and outstanding 60,000 shares = $600,000 - Paid-in capital in excess of par = $850,000 - Retained earnings = $4,000,000 to The following events occurred during 2019: Jan. 5: 20,000 shares of authorized...

  • PROBLEM 1. The stockholders’ equity section of Dobroskey Corporation’s balance sheet as of December 31, 2019...

    PROBLEM 1. The stockholders’ equity section of Dobroskey Corporation’s balance sheet as of December 31, 2019 is as follows:   Stockholders’ Equity - Preferred Stock, 4% $100 par value, 100,000 shares authorized and 5000 shares issued and outstanding   = $500,000 - Common stock, $10 par value; authorized, 2,000,000 shares auth; issued and outstanding 60,000 shares   = $600,000 - Paid-in capital in excess of par  =  $850,000 - Retained earnings  =  $4,000,000 The following events occurred during 2020: - Jan. 5:    20,000 shares of authorized and unissued common...

  • PROBLEM 1. The stockholders' equity section of Dobroskey Corporation's balance sheet as of December 31, 2019...

    PROBLEM 1. The stockholders' equity section of Dobroskey Corporation's balance sheet as of December 31, 2019 is as follows: Stockholders' Equity - Preferred Stock. 4% $100 par value, 100,000 shares authorized and 5000 shares issued and outstanding $500,000 - Common stock. $10 par value: authorized, 2,000,000 shares auth: issued and outstanding 60,000 shares $600.000 Paid-in capital in excess of par = $850.000 - Retained earnings - $4.000.000 The following events occurred during 2020: - Jan. 5: 20,000 shares of authorized...

  • Problem 8-25 Analyzing the stockholders' equity section of the balance sheet The stockholders' equity section of...

    Problem 8-25 Analyzing the stockholders' equity section of the balance sheet The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2016, is as follows. Stockholders Equity Paid-in capital 200,000 Preferred stock, ? par value, 6% cumulative, 100,000 shares authorized 10,000 shares issued and outstanding Common stock, $10 stated value, 200,000 shares authorized, 100,000 shares issued and ?? shares outstanding 1,000,000 Paid-in capital in excess of par- Preferred 25,000 Paid-in capital in 50o,000 excess of...

  • The stockholders' equity section of Blue Spruce Corp.'s balance sheet at December 31 is presented here....

    The stockholders' equity section of Blue Spruce Corp.'s balance sheet at December 31 is presented here. BLUE SPRUCE CORP Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 8,667 shares authorized, 5,200 shares issued and outstanding 530,400 2,308,000 2,838,400 1,180,000 4,018,400 28,800 $3,989,600 Common stock, no par, 746,120 shares authorized, 577,000 shares issued Total paid-in capital Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (5,400 common shares) Total stockholders' equity From a review of the stockholders'...

  • The following was taken from Stockholders’ Equity section of Lynbrook’s December 31, 2018 balance sheet: Common stock- $...

    The following was taken from Stockholders’ Equity section of Lynbrook’s December 31, 2018 balance sheet: Common stock- $10 par value, 200,000 shares authorized 50,000 shares issued and outstanding 500,000 Additional Paid-in Capital 80,000 Retained earnings 350,000 Total stockholders' equity 930,000 In year 2019, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 4,000 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $2 per share cash dividend payable on Feb. 28 to...

  • The stockholders' equity section on the December 31, 2014, balance sheet of American Corporation follows: Stockholders'...

    The stockholders' equity section on the December 31, 2014, balance sheet of American Corporation follows: Stockholders' Equity Contributed capital Preferred stock (par $28; authorized 17,000 shares, ? issued, $196,000 of which 1,000 shares are held as treasury stock) Common stock (no-par, authorized 20,000 shares, issued and outstanding 7,000 shares) Contributed capital (includes $2,300 from treasury 574,000 stock transactions) Retained earnings Cost of treasury stock, preferred 16,300 41,000 (21,000) 6. How much did the treasury stock held cost per share? (Round...

  • The stockholders' equity section of Thomas Corporation's balance sheet at December 31, 2018, appears below:            ...

    The stockholders' equity section of Thomas Corporation's balance sheet at December 31, 2018, appears below:                         Preferred Stock, 6%, $15 stated value, 50,000 shares authorized;                         10,000 issued and outstanding                                                                  150,000             Paid-in capital in excess of stated value-preferred stock                                      30,000             Common stock, $10 par value, 400,000 shares authorized;                      250,000 issued and outstanding                                                                2,500,000             Paid-in capital in excess of par value-common stock                                      1,200,000             Retained earnings                                                                                                  600,000             During 2019, the following stock transactions...

  • Pina Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 13%, $ 100 par (100,000 shares authorized, 28,000 shares issued) $ 2,800,000 Common stock, $ 1 par (1,000,000 sha

    Pina Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet.  Preferred stock,  13%, $ 100 par (100,000 shares authorized,  28,000 shares issued)$ 2,800,000 Common stock, $ 1 par (1,000,000 shares authorized,  307,000 shares issued) 307,000 Additional paid-in capital-common 858,000 Retained earnings 1,379,000    Total $ 5,344,000  During 2020, Pina took part in the following transactions concerning stockholders’ equity.  .1.Paid the annual 2019 dividend on preferred stock and a $ 0.50 per share dividend on common stock. These dividends had been declared on December...

  • The stockholders’ equity section of Fauberg Marigny Corporation at December 31 is as follows. FAUBERG MARIGNY...

    The stockholders’ equity section of Fauberg Marigny Corporation at December 31 is as follows. FAUBERG MARIGNY CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,000 shares authorized,     5,000 shares issued and outstanding $300,000 Common stock, no par, 750,000 shares authorized,     300,000 shares issued 1,500,000 Total paid-in capital 1,800,000 Retained earnings 2,050,000 Total paid-in capital and retained earnings 3,850,000 Less: Treasury stock (5,000 common shares) (64,000 ) Total stockholders' equity $3,786,000 From a review of the stockholders’ equity...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT