Homework Answers
A) $108
Shares issued = $270,000 / $100 par = 2,700 shares
Average issue price of the preferred stock shares = ($270,000 + $22,000) / 2,700 shares = $108
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30) The following information is from the December 31, 2018 balance sheet of January Corporation. Preferred...
30) The following information is from the December 31, 2018 balance sheet of January Corporation. Preferred...
30) The following information is from the December 31, 2018 balance sheet of January Corporation. Preferred Stock, $100 par Paid-In Capital in Excess of Par-Preferred Common Stock, $1 par Paid-In Capital in Excess of Par-Common Retained Earnings Total Stockholders' Equity $270,000 22,000 69,000 206,000 56,600 $623,600 What is the average issue price of the preferred stock shares? (Round answers to the nearest dollar.) A) $108 B) $100 C) $167 D) $106
The following information is from the December 31, 2017 balance sheet of Lawson Corporation. Preferred Stock,...
The following information is from the December 31, 2017 balance sheet of Lawson Corporation. Preferred Stock, $100 par $ 590 comma 000$590,000 Paidminus−In Capital in Excess of Par-Preferred 39 comma 00039,000 Common Stock, $1 par 170 comma 000170,000 Paidminus−In Capital in Excess of Par-Common 570 comma 000570,000 Retained Earnings 151 comma 500151,500 Total Stockholders' Equity $ 1 comma 520 comma 500$1,520,500 What was the average issue price of the common stock shares? (Round your answer to the nearest cent.)
STEINER CORPORATION Partial Balance Sheet December 31, 2018 Stockholders’ equity 8% Preferred stock, $100 par value,...
STEINER CORPORATION Partial Balance Sheet December 31, 2018 Stockholders’ equity 8% Preferred stock, $100 par value, cumulative, 5,000 shares issued ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$500,000 In excess of par value— preferred stock ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $280,000 Common stock, $5 par value, 440,000 shares issued ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$2,200,000 In excess of par value—common stock ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $800,000 Total paid-in capital ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $3,780,000 Retained earnings ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $1,334,000 Total paid-in capital and retained earnings ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ$5,114,000 Less: Treasury stock (10,000 common shares) ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ($120,000) Total stockholders’ equity ˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑˑ $4,994,000 On December 1, 2018, the...
The stockholders' equity section of Lemay Corporation shows the following on December 31, 2018: Preferred stock—5%,...
The stockholders' equity section of Lemay Corporation shows the following on December 31, 2018: Preferred stock—5%, $100 par, 4,500 shares outstanding $450,000 Common stock—$10 par, 58,000 shares outstanding 580,000 Paid-in capital in excess of par 210,000 Retained earnings 115,200 Total stockholders' equity $1,355,200 Assuming that all of the company's retained earnings are to be paid out in dividends on 12/31/18 and that preferred dividends were last paid on 12/31/16, show how much the preferred and common stockholders should receive if...
Question 50 Marigold Corporation's December 31, 2018 balance sheet showed the following | 8% preferred stock,...
Question 50 Marigold Corporation's December 31, 2018 balance sheet showed the following | 8% preferred stock, $20 par value, cumulative, 10600 shares authorized; 9100 shares issued Common stock, $10 par value, 980000 shares authorized; 930000 shares issued, 920000 shares outstanding Paid-in capital in excess of par-preferred stock Paid-in capital in excess of par-common stock Retained earnings Treasury stock (14800 shares) $182000 9300000 35000 11420000 3730000 310800 Marigold's total stockholders' equity was $24356200. $24386200. $24986200. $24407200.
The stockholders' equity section of Thomas Corporation's balance sheet at December 31, 2018, appears below: Preferred...
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 Paid-in capital in excess of stated value-preferred stock Common stock, $10 par value, 400,000 shares authorized; 250,000 issued and outstanding 150,000 30.000 2,500,000 Paid-in capital in excess of par value-common stock Retained earnings 1,200,000 600,000 During 2019, the following stock transactions occurred: Jan. 18 Issued 5,000 shares of common stock at $30...
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, 4% cumulative, 290,000 shares authorized, 59,000 shares $590,006 1ssued and outstanding Common stock, $15 stated value, 340,000 shares authorized, 59,000?? shares issued and 885,000 49,000 outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated 295,000 value-Common Total paid-in capital Retained earnings Treasury stock, 3,000 shares Total stockholders equity 1,819,000...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accounts of Willis Corporation at January...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accounts of Willis Corporation at January 1 appear below: 8 Percent preferred stock, $10 par value, 50,000 shares authorized; 6,800 shares issued and outstanding $68,000 Common stock, $10 par value, 200,000 shares authorized; 50,000 shares issued and outstanding 500,000 Paid-in capital in excess of par value-Preferred stock 68,000 Paid-in capital in excess of par value-Common stock 200,000 Retained earnings 270,000 During the year, the following transactions occurred: Jan. 10 Issued...
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 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. $540,eee Stockholders' Equity Paid-in capital Preferred stock,? par value, 5% cumulative, 150,000 shares authorized, 45,000 shares issued and outstanding Common stock, $15 stated value, 280,000 shares authorized 45,eee?? shares issued and outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated value-Connon Total paid-in capital Retained earnings Treasury stock, 4,000 shares Total stockholders' equity 675,000 35,000 225, eee...
30) The following information is from the December 31, 2018 balance sheet of January Corporation. Preferred Stock, $100 par Paid-In Capital in Excess of Par-Preferred Common Stock, $1 par Paid-In Capital in Excess of Par-Common Retained Earnings Total Stockholders' Equity $270,000 22,000 69,000 206,000 56,600 $623,600 What is the average issue price of the preferred stock shares? (Round answers to the nearest dollar.) A) $108 B) $100 C) $167 D) $106
Question 50 Marigold Corporation's December 31, 2018 balance sheet showed the following | 8% preferred stock, $20 par value, cumulative, 10600 shares authorized; 9100 shares issued Common stock, $10 par value, 980000 shares authorized; 930000 shares issued, 920000 shares outstanding Paid-in capital in excess of par-preferred stock Paid-in capital in excess of par-common stock Retained earnings Treasury stock (14800 shares) $182000 9300000 35000 11420000 3730000 310800 Marigold's total stockholders' equity was $24356200. $24386200. $24986200. $24407200.
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 Paid-in capital in excess of stated value-preferred stock Common stock, $10 par value, 400,000 shares authorized; 250,000 issued and outstanding 150,000 30.000 2,500,000 Paid-in capital in excess of par value-common stock Retained earnings 1,200,000 600,000 During 2019, the following stock transactions occurred: Jan. 18 Issued 5,000 shares of common stock at $30...
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, 4% cumulative, 290,000 shares authorized, 59,000 shares $590,006 1ssued and outstanding Common stock, $15 stated value, 340,000 shares authorized, 59,000?? shares issued and 885,000 49,000 outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated 295,000 value-Common Total paid-in capital Retained earnings Treasury stock, 3,000 shares Total stockholders equity 1,819,000...
Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accounts of Willis Corporation at January 1 appear below: 8 Percent preferred stock, $10 par value, 50,000 shares authorized; 6,800 shares issued and outstanding $68,000 Common stock, $10 par value, 200,000 shares authorized; 50,000 shares issued and outstanding 500,000 Paid-in capital in excess of par value-Preferred stock 68,000 Paid-in capital in excess of par value-Common stock 200,000 Retained earnings 270,000 During the year, the following transactions occurred: Jan. 10 Issued...
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 of the balance sheet for Mann Equipment Co. at December 31, 2018. is as follows. $540,eee Stockholders' Equity Paid-in capital Preferred stock,? par value, 5% cumulative, 150,000 shares authorized, 45,000 shares issued and outstanding Common stock, $15 stated value, 280,000 shares authorized 45,eee?? shares issued and outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated value-Connon Total paid-in capital Retained earnings Treasury stock, 4,000 shares Total stockholders' equity 675,000 35,000 225, eee...
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