Finding Amounts Missing from the Stockholders' Equity Section
The stockholders’ equity section on the December 31, 2009, balance sheet of Chemfast Corporation follows:
Stockholders’ Equity |
|
Contributed capital |
|
Preferred stock (par $20; authorized 10,000 shares, ? issued, of which 500 shares are held as treasury stock) | $100,000 |
Common stock (no-par; authorized 20,000 shares, issued and outstanding 8,000 shares) | 600,000 |
Contributed capital (includes $1,500 from treasury stock transactions) | 16,500 |
Retained earnings | 34,000 |
Cost of treasury stock, preferred | (9,500) |
Required:
Complete the following statements and show your computations.
1. The number of shares of preferred stock issued was ________.
2. The number of shares of preferred stock outstanding was _________.
3. The average sale price of the preferred stock when issued was $_________ per share.
4. Have the treasury stock transactions (a) increased corporate resources or (b) decreased resources ? __________ By how much? __________.
5. The treasury stock transactions increased (decreased) stockholders’ equity by _______.
6. How much did the treasury stock held cost per share? $__________.
7. Total stockholders’ equity is $__________.
8. The average issue price of the common stock was $___________.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.