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13 Apr 2018

Preferred stock— $25 par value, 10,000 shares authorized, 5,200shares issued and outstanding

$

130,000

Common stock—$10 par value, 100,000 shares authorized, 80,000shares issued and outstanding

800,000

Total paid-in capital

$

930,000

Retained earnings

550,000

Total stockholders’ equity

$

1,480,000

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Hubert Koch
Hubert KochLv2
16 Apr 2018

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Raphael Corporation’s common stock is currently selling on astock exchange at $154 per share, and its current balance sheetshows the following stockholders’ equity section: Preferredstock—5% cumulative, $___ par value, 1,000 shares authorized,issued, and outstanding $ 50,000

Common stock—$___ par value, 4,000 shares authorized, issued,and outstanding 80,000

Retained earnings 300,000

Total stockholders' equity $ 430,000

What is the current market value (price) of this corporation’scommon stock?

What are the par values of the corporation's preferred stock andits common stock?

If no dividends are in arrears, what are the book values pershare of the preferred stock and the common stock?

If two years' preferred dividends are in arrears, what are thebook values per share of the preferred stock and the commonstock?

If two years’ preferred dividends are in arrears and thepreferred stock is callable at $60 per share, what are the bookvalues per share of the preferred stock and the common stock?

If two years’ preferred dividends are in arrears and the boardof directors declares cash dividends of $19,500, what total amountwill be paid to the preferred and to the common shareholders?

The stockholders' equity section of Gupta Company at December 31, 2013 follows:

8% preferred stock, $25 par value, 50,000 shares authorized; 7,200 shares issued and outstanding....... $180,000

Common Stock, $10 par value, 200,000 shares authorized; 40,000 shares issued and outstanding..... $400,000

Paid-In capital excess of par value (preferred)......... $68,000

Pain-IN capital in excess par value (common).... $200,000

Retained Earnings... $280,000

During 2014, the following transactions ocurred:

Jan 10 Issued 28,000 shares of common stock for $16 per share

Jan 23 Repurchased 8,000 shares of common stock at $18 per share

Mar 14 Sold half of the treasury shares acquired Jan 23 for $20 per share

July 15 Issued 2,800 shares of preferred stock for $128,000 cash

Nov 15 Sold 1,000 of the treasury shares acquired Jan 23 for $24 per share

Questions:

a0 Use the financial statement effects template to indicate the effects from cash of these transactions.

b) Prepare the December 31, 2014, stockholders' equity section of the balance sheet assuming the company reports 2014 net income of $62,000.

The stockholders’equity section of Birdman Corp.’s balance sheet at December 31 ispresented here.
Birdman Corp.
Balance Sheet (partial)
Stockholders’ equity
Paid-incapital
Preferred stock, cumulative,10,000 shares authorized, 6,000 shares issued and outstanding $ 640,000
Common stock, no par, 735,776shares authorized, 569,000 shares issued 2,400,000
Totalpaid-in capital 3,040,000
Retainedearnings 1,191,000
Total paid-incapital and retained earnings 4,231,000
Less:Treasury stock (5,200 common shares) 30,933
Total stockholders’equity $4,200,067
From a review of thestockholders’ equity section, answer the following questions:
(a) How many shares of commonstock are outstanding?
Common stock outstanding shares
(b) Assuming there is a statedvalue, what is the stated value of the common stock?
The stated value of the commonstock per share
(c) What is the par value ofthe preferred stock?
The par value of the preferredstock per share
(d) If the annual dividend onpreferred stock is $57,600, what is the dividend rate on preferredstock?
The dividend rate %
(e) If dividends of $74,800were in arrears on preferred stock, what would be the balancereported for retained earnings?
The Retained Earningsbalance

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