A firm issued 20 shares of common stock. It reported common stock at $40, additional paid...
A firm issued 20 shares of common stock. It reported common stock at $40, additional paid in capital on common stock of $60, and retained earnings of $100 as shareholders' equity on its balance sheet. Common stock sold for
a. $2 per share
b. $3 per share
c. $5 per share
d. $8 per share
Homework Answers
Answer c. $5 per share
A) Common stock $40
B) Additional paid in capital $60
C) Total ( A+B). $100
D) No of shares issued 20
E) Sale price of common stock (C/ D) $5 per share
Add Answer to:
A firm issued 20 shares of common stock. It reported common
stock at $40, additional paid...
Common Stock, $1 par (2,700,000 shares authorized, 705,000 shares issued and outstanding) $705,000 Paid-in Capital in...
Common Stock, $1 par (2,700,000
shares authorized, 705,000 shares issued and outstanding)
$705,000
Paid-in Capital in Excess of Par
Value
1,430,000
Retained Earnings
684,000
Accumulated Other Comprehensive Income
47,000
During 2022, the following transactions and events
occurred.
1.
Issued 45,500 shares of $1 par
value common stock for $2 per share.
2.
Issued 60,500 shares of common
stock for cash at $5 per share.
3.
Purchased 23,700 shares of common
stock for the treasury at $3.30 per share.
4.
Declared...
Land Corporation reported the following: Common Stock, $5.00 par, 208,000 shares authorized, 162,000 shares issued Paid...
Land Corporation reported the following: Common Stock, $5.00 par, 208,000 shares authorized, 162,000 shares issued Paid in Capital in Excess of Par—Common Retained Earnings Total Stockholders' Equity $810,000 200,000 215,000 $1,225,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $15.50 per share? O A. Paid – In Capital from Treasury Stock Transactions is credited for $430,000. OB. Retained Earnings is debited for $620,000. OC. Common Stock-$5.00...
Common stock (par $1; no changes during the current year). Shares authorized 10,000,000. Shares issued, ?...
Common stock (par $1; no changes during the current year). Shares authorized 10,000,000. Shares issued, ? issue price $10 per share. Shares held as treasury stock, 53,000 shares, cost $11 per share. Net income for the current year, $1,672,100 Common Stock account, $780,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $36,700,000. Required: Complete the following: (Round per share to 2 decimal places.) 780,000 2 Shares issued Shares outstanding The balance...
An entity issued 40 shares of $1 par value common stock and reported 10 shares of...
An entity issued 40 shares of $1 par value common stock and reported 10 shares of common stock in its treasury. This firm declared and paid a $0.10 per share cash dividend on common stock. The total amount of the dividend paid was a. $3.00 b. $4.00 c. $1.00 d. $0.
Land Corporation reported the following: Common Stock, $5.00 par, 217,000 shares authorized, 178,000 shares issued $890,000...
Land Corporation reported the following: Common Stock, $5.00 par, 217,000 shares authorized, 178,000 shares issued $890,000 Paid in Capital in Excess of Par—Common 202,000 Retained Earnings 231,000 Total Stockholders' Equity $1,323,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $13.50 per share? OA. Paid - In Capital from Treasury Stock Transactions is credited for $190,000. OB. Treasury Stock-Common is debited for $540,000. OC. Common Stock-$5.00 Par...
Distinguishing Between Common Stock and Additional Paid-in Capital Following is the stockholders' equity section from the...
Distinguishing Between Common Stock and Additional Paid-in Capital Following is the stockholders' equity section from the Cisco Systems Inc. balance sheet for the third quarter of fiscal 2019. Shareholders' Equity (in millions, except par value) April 27, 2019 Preferred stock, no par value: 5 shares authorized; none issued and outstanding Common stock and additional paid-in capital, $0.001 par value: 20,000 shares authorized; 4,313 shares issued and outstanding 40,577 Retained earnings (Accumulated deficit) (2,877) Accumulated other comprehensive income (loss) (896) Total...
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...
Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par...
Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 800,000 256,000 928,000 $1,984,000 1. Prepare Journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock at $33 per share on October 11. b. Sold 1,200 treasury shares on November 1 for $39 cash per share. c. Sold all remaining treasury shares on November 25 for...
1. How many shares of preferred stock have been issued? 2. How many shares of common...
1. How many shares of
preferred stock have been issued?
2. How many shares of common stock have been issued?
3. If the common shares were issued at $15 per share, at what
average price per share were the preferred shares issued?
4. If retained earnings at the beginning of the period was $235
million and $15 million was paid in dividends during the year, what
was the net income for the year?
The stockholders' equity section of Velcro World...
Sarah Co. has the following stockholders' equity for 12/31/2019: $ 25,000 1,400 26,400 Preferred stock, 8%,...
Sarah Co. has the following stockholders' equity for 12/31/2019: $ 25,000 1,400 26,400 Preferred stock, 8%, $50 par, 3,000 shares authorized, 500 shares issued and outstanding Common stock, $.20 par, 10,000 shares authorized, 7,000 shares issued, and 6,700 shares outstanding Total capital stock Additional paid-in capital: Preferred Common Total paid-in capital Retained earnings Treasury Stock (300 shares at $25 cost) Total stockholders' equity 208,600 235,000 280,000 (7,500 $ 507,500 Required: Record the transactions listed and prepare the 2020 stockholders' equity...
Common Stock, $1 par (2,700,000
shares authorized, 705,000 shares issued and outstanding)
$705,000
Paid-in Capital in Excess of Par
Value
1,430,000
Retained Earnings
684,000
Accumulated Other Comprehensive Income
47,000
During 2022, the following transactions and events
occurred.
1.
Issued 45,500 shares of $1 par
value common stock for $2 per share.
2.
Issued 60,500 shares of common
stock for cash at $5 per share.
3.
Purchased 23,700 shares of common
stock for the treasury at $3.30 per share.
4.
Declared...
Land Corporation reported the following: Common Stock, $5.00 par, 208,000 shares authorized, 162,000 shares issued Paid in Capital in Excess of Par—Common Retained Earnings Total Stockholders' Equity $810,000 200,000 215,000 $1,225,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $15.50 per share? O A. Paid – In Capital from Treasury Stock Transactions is credited for $430,000. OB. Retained Earnings is debited for $620,000. OC. Common Stock-$5.00...
Common stock (par $1; no changes during the current year). Shares authorized 10,000,000. Shares issued, ? issue price $10 per share. Shares held as treasury stock, 53,000 shares, cost $11 per share. Net income for the current year, $1,672,100 Common Stock account, $780,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $36,700,000. Required: Complete the following: (Round per share to 2 decimal places.) 780,000 2 Shares issued Shares outstanding The balance...
Land Corporation reported the following: Common Stock, $5.00 par, 217,000 shares authorized, 178,000 shares issued $890,000 Paid in Capital in Excess of Par—Common 202,000 Retained Earnings 231,000 Total Stockholders' Equity $1,323,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $13.50 per share? OA. Paid - In Capital from Treasury Stock Transactions is credited for $190,000. OB. Treasury Stock-Common is debited for $540,000. OC. Common Stock-$5.00 Par...
Distinguishing Between Common Stock and Additional Paid-in Capital Following is the stockholders' equity section from the Cisco Systems Inc. balance sheet for the third quarter of fiscal 2019. Shareholders' Equity (in millions, except par value) April 27, 2019 Preferred stock, no par value: 5 shares authorized; none issued and outstanding Common stock and additional paid-in capital, $0.001 par value: 20,000 shares authorized; 4,313 shares issued and outstanding 40,577 Retained earnings (Accumulated deficit) (2,877) Accumulated other comprehensive income (loss) (896) Total...
Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 800,000 256,000 928,000 $1,984,000 1. Prepare Journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock at $33 per share on October 11. b. Sold 1,200 treasury shares on November 1 for $39 cash per share. c. Sold all remaining treasury shares on November 25 for...
1. How many shares of
preferred stock have been issued?
2. How many shares of common stock have been issued?
3. If the common shares were issued at $15 per share, at what
average price per share were the preferred shares issued?
4. If retained earnings at the beginning of the period was $235
million and $15 million was paid in dividends during the year, what
was the net income for the year?
The stockholders' equity section of Velcro World...
Sarah Co. has the following stockholders' equity for 12/31/2019: $ 25,000 1,400 26,400 Preferred stock, 8%, $50 par, 3,000 shares authorized, 500 shares issued and outstanding Common stock, $.20 par, 10,000 shares authorized, 7,000 shares issued, and 6,700 shares outstanding Total capital stock Additional paid-in capital: Preferred Common Total paid-in capital Retained earnings Treasury Stock (300 shares at $25 cost) Total stockholders' equity 208,600 235,000 280,000 (7,500 $ 507,500 Required: Record the transactions listed and prepare the 2020 stockholders' equity...
Most questions answered within 3 hours.
-
D. A student completed 20 courses in the School of Arts and
Sciences. Her grades in...
asked 1 hour ago -
teo
pucks moving on a frictionless air table are about to collide. the
1.5 kg puck...
asked 1 hour ago -
Problem #1
The area between Z = 0 and Z = 2.50
The area between Z...
asked 3 hours ago -
1. What is the meaning of the term communication style?
2. What are the benefits to...
asked 2 hours ago -
9.) You are buying a car that cost $26,500. You make payments of
$412 each month...
asked 2 hours ago -
. Suppose a discrete random variable has probability
distribution
P(x) = .2 if x = 0...
asked 4 hours ago -
Under the influence of its drive force, a snowmobile is moving
at a constant velocity along...
asked 4 hours ago -
Why do organizations decline? What steps can top
management take to halt, decline, and restore organizational...
asked 4 hours ago -
What mechanisms Drive speciation??
(I.e. what was Dawins theory on the orgin of species, and how...
asked 6 hours ago -
The manager at a car assembly plant believes that the mean
assembly time for a car...
asked 6 hours ago -
Which of the following is true of electron capture?
A) It decreases the nuclide's mass number...
asked 8 hours ago -
Assuming an efficiency of 43.10%, calculate the actual yield of
magnesium nitrate formed from 114.9 g...
asked 9 hours ago