Homework Answers
| Computation | |||
| 1. The number of shares of preferred stock issued was | 4,800 | Total Par value / Par value per share = $96,000 / $20 per share | |
| 2. The number of shares of preferred stock outstanding was | 3,800 | Total preferred shares issued - Treasury stock = 4,800 shares - 1,000 shares | |
| 3. The average issue price of the preferred stock was | $22.55 | per shate | (Total par value + Additional paid in captial) / Number of shares issued = ($96,000 + $12,240) / 4,800 shares |
| 4. The average issue price of the common stock was | $96.00 | per shate | (Total par value + Additional paid in captial) / Number of shares issued = ($537,600 + $0) / 5,600 shares |
| 5 The treasury stock transaction increased (decreased) stockholders' equity by | Decreased by $9,300 | ||
| 6. The treasury stock cost | $9.30 | per share | Total treasury stock cost / Number of shares of treasury stock = $9,300 / 1,000 shares |
| 7 Total stockholders' equity is | $662,540 | Contributed capital + Retained earnings - Treasury stock = ($96,000 + $12,240 + $537,600) + $26,000 - $9,300 |
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The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amount...
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following...
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: $ 112,000 16,520 Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,400 shares) Retained Earnings Treasury Stock, 1,000 Preferred shares at cost 665,600 34,000 (9,700) Assume that no shares of treasury stock have been sold in the past....
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following...
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: $ 124,000 20,150 Contributed Capital Preferred Stock (par $ 20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 7,000 shares) Retained Earnings Treasury Stock, 1,000 Preferred shares at cost 770,000 40,000 (10,000) Assume that no shares of treasury stock have been sold in the...
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following...
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: $ 108,000 15,390 Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,200 shares) Retained Earnings Treasury Stock 1.000 preferred shares at cost 632,400 32,000 (9,600 ) Assume that no shares of treasury stock have been sold in the...
the stockholders equity section on the December 31 balance sheet of Chemfast 10. value 0.50 points...
the stockholders equity section on the December 31 balance
sheet of Chemfast
10. value 0.50 points The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: S 92.000 11.270 Contributed Capital Preferred Stock (par $20authorized 10,000 shares, ? issued of which 1,000 shares are held as treasury stock) Additional Paid-in Capital, Preferred Common Stock (no-par, authorized 20,000 shares, issued and outstanding 5,400 shares) Retained Earnings Treasury Stock 1,000 Preferred shares at cost 507,600...
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following a...
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,800 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,700 shares) Retained Earnings Treasury Stock, 1,800 Preferred shares at cost $118,000 18, 290 716,900 37,000 (9,850) Assume that no shares of treasury stock have been sold in the past...
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...
E11-7 Finding Amounts Missing from the Stockholders Equity Section [LO 11-2, LO 11-4] The stockholders' equity...
E11-7 Finding Amounts Missing from the Stockholders Equity Section [LO 11-2, LO 11-4] The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued of which 1,000 shares are held as treasury stock) Additional Paid-in Capital, Preferred Common Stock (no-par, authorized 20,000 shares, issued and 110,000 15,950 outstanding 6,300 shares) Retained Earnings Treasury Stock, 1,000 Preferred shares at cost 648,900 33,000 9,650 Assume...
The stockholders' equity section on the December 31 balance sheet of Hadley Corporation reported the following...
The stockholders' equity section on the December 31 balance sheet of Hadley Corporation reported the following amounts: Preferred Stock (par $50; authorized 10,000 shares, ? issued 310,400 Additional Paid-in Capital, Preferred 18,401 Common Stock (no-par; authorized 20,000 shares, issued and outstanding 5,300 shares) 60,204 Retained Earnings 137,366 Treasury Stock, 1,000 Preferred shares at cost 56,824 What is the total paid in capital for Hadley Corporation?
Stockholders' Equity Section of Balance Sheet The following Stockholders' Equity section of the balance sheet prepared...
Stockholders' Equity Section of Balance Sheet The following Stockholders' Equity section of the balance sheet prepared as of the end of the current year contains errors. Stockholders' Equity Paid-in capital: Preferred 2% stock, $80 par (125,000 shares authorized and issued) $10,000,000 Excess of issue price over par 500,000 Paid-in capital, preferred stock $10,500,000 Retained earnings 96,700,000 Treasury stock (75,000 shares at cost) 1,755,000 Dividends payable 430,000 Total paid-in capital $109,385,000 Common stock, $20 par (1,000,000 shares authorized, 825,000 shares 17,655,000...
The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2018,...
The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2018, is as follows. Stockholders' Equity Paid-in capital Preferred stock,? par value, 5% cumulative, 230,000 shares authorized, 53,000 shares issued 636,000 and outstanding Common stock, $25 stated value, 280,000 shares authorized, 53,000?? shares issued and outstanding 1, 325,000 43,000 159,000 Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated value-Common Total paid-in capital Retained earnings Treasury stock, 9,000 shares Total stockholders' equity...
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: $ 112,000 16,520 Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,400 shares) Retained Earnings Treasury Stock, 1,000 Preferred shares at cost 665,600 34,000 (9,700) Assume that no shares of treasury stock have been sold in the past....
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: $ 124,000 20,150 Contributed Capital Preferred Stock (par $ 20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 7,000 shares) Retained Earnings Treasury Stock, 1,000 Preferred shares at cost 770,000 40,000 (10,000) Assume that no shares of treasury stock have been sold in the...
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: $ 108,000 15,390 Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,200 shares) Retained Earnings Treasury Stock 1.000 preferred shares at cost 632,400 32,000 (9,600 ) Assume that no shares of treasury stock have been sold in the...
the stockholders equity section on the December 31 balance
sheet of Chemfast
10. value 0.50 points The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: S 92.000 11.270 Contributed Capital Preferred Stock (par $20authorized 10,000 shares, ? issued of which 1,000 shares are held as treasury stock) Additional Paid-in Capital, Preferred Common Stock (no-par, authorized 20,000 shares, issued and outstanding 5,400 shares) Retained Earnings Treasury Stock 1,000 Preferred shares at cost 507,600...
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,800 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,700 shares) Retained Earnings Treasury Stock, 1,800 Preferred shares at cost $118,000 18, 290 716,900 37,000 (9,850) Assume that no shares of treasury stock have been sold in the past...
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...
E11-7 Finding Amounts Missing from the Stockholders Equity Section [LO 11-2, LO 11-4] The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued of which 1,000 shares are held as treasury stock) Additional Paid-in Capital, Preferred Common Stock (no-par, authorized 20,000 shares, issued and 110,000 15,950 outstanding 6,300 shares) Retained Earnings Treasury Stock, 1,000 Preferred shares at cost 648,900 33,000 9,650 Assume...
Stockholders' Equity Section of Balance Sheet The following Stockholders' Equity section of the balance sheet prepared as of the end of the current year contains errors. Stockholders' Equity Paid-in capital: Preferred 2% stock, $80 par (125,000 shares authorized and issued) $10,000,000 Excess of issue price over par 500,000 Paid-in capital, preferred stock $10,500,000 Retained earnings 96,700,000 Treasury stock (75,000 shares at cost) 1,755,000 Dividends payable 430,000 Total paid-in capital $109,385,000 Common stock, $20 par (1,000,000 shares authorized, 825,000 shares 17,655,000...
The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2018, is as follows. Stockholders' Equity Paid-in capital Preferred stock,? par value, 5% cumulative, 230,000 shares authorized, 53,000 shares issued 636,000 and outstanding Common stock, $25 stated value, 280,000 shares authorized, 53,000?? shares issued and outstanding 1, 325,000 43,000 159,000 Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated value-Common Total paid-in capital Retained earnings Treasury stock, 9,000 shares Total stockholders' equity...
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