The following items were shown on the balance sheet of FreelanderCorporation on 12/31/2009:
Stockholders' Equity
Paid in Capital
Common stock, $5 par value, 10,000,000 shares
authorized; ___shares issued and ____outstanding $ 20,000
Additional paid-in capital in excess of par value 5,000
Total paid-in capital $ 25,000
Retained Earnings $ 8,000
Total paid-in capital and retained earnings $ 33,000
Less: Treasury stock (800 shares) $ (6,400)
Total stockholders' equity $ 26,600
1) The number of shares of common stock issued were______________
2) The number of shares of common stock outstanding are_____________
3) The average issue price of the common stock was____________________
4 The average cost per share of the treasury stock was______________________
5) A $0.15 per share dividend is declared, how much will thedividend payable be? ________________
6) If a company had 10,000 shares issued and outstanding with a parvalue of $2; answer the following questions if the company declareda 4 for 1 stock split:
a. What is the dollar amount of common stock before thesplit?
b. What would be the outstanding share after the split?
c. What would be the par value after the split?
d. What is the dollar amount of common stock after the split?
Stockholders' Equity
Paid in Capital
Common stock, $5 par value, 10,000,000 shares
authorized; ___shares issued and ____outstanding $ 20,000
Additional paid-in capital in excess of par value 5,000
Total paid-in capital $ 25,000
Retained Earnings $ 8,000
Total paid-in capital and retained earnings $ 33,000
Less: Treasury stock (800 shares) $ (6,400)
Total stockholders' equity $ 26,600
1) The number of shares of common stock issued were______________
2) The number of shares of common stock outstanding are_____________
3) The average issue price of the common stock was____________________
4 The average cost per share of the treasury stock was______________________
5) A $0.15 per share dividend is declared, how much will thedividend payable be? ________________
6) If a company had 10,000 shares issued and outstanding with a parvalue of $2; answer the following questions if the company declareda 4 for 1 stock split:
a. What is the dollar amount of common stock before thesplit?
b. What would be the outstanding share after the split?
c. What would be the par value after the split?
d. What is the dollar amount of common stock after the split?
Related questions
ACT5725
The stockholders' equity of Verrecchia Company at December 31, 2016, follows:
| Common stock, $5 par value, 500,000 shares authorized; 350,000 shares issued and outstanding | $1,750,000 |
| Paid-in capital in excess of par value | 800,000 |
| Retained earnings | 634,000 |
During 2017, the following transactions occurred:
Jan. 5 Issued 10,000 shares of common stock for $13 cash per share.
Jan. 18 Repurchased 4,000 shares of common stock at $16 cash per share.
Mar. 12 Sold one-fourth of the treasury shares acquired January 18 for $19 cash per share.
July 17 Sold 500 shares of treasury stock for $14 cash per share.
Oct. 1 Issued 5,000 shares of 8%, $25 par value preferred stock for $36 cash per share. This is the first issuance of preferred shares from the 50,000 authorized preferred shares.
(a) Use the financial statement effects template to indicate the effects of each transaction.
Use negative signs with answers, when appropriate.
| Balance Sheet | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Transaction | Cash Asset | + | Noncash Assets | = | Liabilities | + | Contributed Capital | + | Earned Capital | |
| Jan. 5 | Answer | Answer | Answer | Answer | Answer | |||||
| Jan. 18 | Answer | Answer | Answer | Answer | Answer | |||||
| Mar. 12 | Answer | Answer | Answer | Answer | Answer | |||||
| July. 17 | Answer | Answer | Answer | Answer | Answer | |||||
| Oct. 1 | Answer | Answer | Answer | Answer | Answer | |||||
| Income Statement | |||||
|---|---|---|---|---|---|
| Revenue | - | Expenses | = | Net Income | |
| Answer | Answer | Answer | |||
| Answer | Answer | Answer | |||
| Answer | Answer | Answer | |||
| Answer | Answer | Answer | |||
| Answer | Answer | Answer | |||
(b) Prepare the December 31, 2017, stockholders' equity section of the balance sheet assuming that the company reports net income of $76,900 for the year.
Use a negative sign with your answer for treasury stock.
| Stockholders' Equity | ||
|---|---|---|
| Paid-in capital | ||
| 8% Preferred stock, $25 par value, 50,000 shares authorized, 5,000 shares issued and outstanding | $Answer | |
| Common stock, $5 par value, 500,000 shares authorized; 360,000 shares issued | Answer | $Answer |
| Additional Paid-in capital | ||
| Paid-in capital in excess of par value-preferred stock | Answer | |
| Paid-in capital in excess of par value-common stock | Answer | |
| Paid-in capital from treasury stock | Answer | Answer |
| Total paid-in capital | Answer | |
| Retained earnings | Answer | |
| Answer | ||
| Less: Treasury stock (2,500 shares) at cost (use a negative sign with answer) | Answer | |
| Total Stockholders' Equity | $Answer | |
act5725
The stockholders' equity of Verrecchia Company at December 31, 2016, follows:
| Common stock, $5 par value, 500,000 shares authorized; 350,000 shares issued and outstanding | $1,750,000 |
| Paid-in capital in excess of par value | 800,000 |
| Retained earnings | 634,000 |
During 2017, the following transactions occurred:
Jan. 5 Issued 10,000 shares of common stock for $13 cash per share.
Jan. 18 Repurchased 4,000 shares of common stock at $16 cash per share.
Mar. 12 Sold one-fourth of the treasury shares acquired January 18 for $19 cash per share.
July 17 Sold 500 shares of treasury stock for $14 cash per share.
Oct. 1 Issued 5,000 shares of 8%, $25 par value preferred stock for $36 cash per share. This is the first issuance of preferred shares from the 50,000 authorized preferred shares.
(a) Use the financial statement effects template to indicate the effects of each transaction.
Use negative signs with answers, when appropriate.
| Balance Sheet | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Transaction | Cash Asset | + | Noncash Assets | = | Liabilities | + | Contributed Capital | + | Earned Capital | |
| Jan. 5 | Answer | Answer | Answer | Answer | Answer | |||||
| Jan. 18 | Answer | Answer | Answer | Answer | Answer | |||||
| Mar. 12 | Answer | Answer | Answer | Answer | Answer | |||||
| July. 17 | Answer | Answer | Answer | Answer | Answer | |||||
| Oct. 1 | Answer | Answer | Answer | Answer | Answer | |||||
| Income Statement | |||||
|---|---|---|---|---|---|
| Revenue | - | Expenses | = | Net Income | |
| Answer | Answer | Answer | |||
| Answer | Answer | Answer | |||
| Answer | Answer | Answer | |||
| Answer | Answer | Answer | |||
| Answer | Answer | Answer | |||
(b) Prepare the December 31, 2017, stockholders' equity section of the balance sheet assuming that the company reports net income of $76,900 for the year.
Use a negative sign with your answer for treasury stock.
| Stockholders' Equity | ||
|---|---|---|
| Paid-in capital | ||
| 8% Preferred stock, $25 par value, 50,000 shares authorized, 5,000 shares issued and outstanding | $Answer | |
| Common stock, $5 par value, 500,000 shares authorized; 360,000 shares issued | Answer | $Answer |
| Additional Paid-in capital | ||
| Paid-in capital in excess of par value-preferred stock | Answer | |
| Paid-in capital in excess of par value-common stock | Answer | |
| Paid-in capital from treasury stock | Answer | Answer |
| Total paid-in capital | Answer | |
| Retained earnings | Answer | |
| Answer | ||
| Less: Treasury stock (2,500 shares) at cost (use a negative sign with answer) | Answer | |
| Total Stockholders' Equity | $Answer | |
