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5 May 2018
The stockholders' equity section on the December 31 balancesheet of Chemfast Corporation reported the following amounts:
ContributedCapital Preferred Stock (par $20; authorized 10,000shares, ? issued, of which1,000 shares are held as treasury stock) $ 102,000 Additional Paid-in Capital, Preferred 13,770 CommonStock (no-par; authorized 20,000 shares, issued and outstanding5,900 shares) 584,100 RetainedEarnings 29,000 Treasury Stock,1,000 Preferred shares at cost 9,450
Assume that no shares of treasury stock have been sold in thepast.
Required: Complete the following statements. (Decreases should beindicated by a minus sign. Round per share to 2 decimalplaces.)
1. Thenumber of shares of preferred stock issued was 2. Thenumber of shares of preferred stock outstanding was 3. Theaverage issue price of the preferred stock was pershare 4. Theaverage issue price of the common stock was 5. Thetreasury stock transaction increased (decreased) stockholdersâequity by 6. Thetreasury stock cost pershare 7. Totalstockholdersâ equity is
The stockholders' equity section on the December 31 balancesheet of Chemfast Corporation reported the following amounts: |
| ContributedCapital | |||
| Preferred Stock (par $20; authorized 10,000shares, ? issued, of which1,000 shares are held as treasury stock) | $ | 102,000 | |
| Additional Paid-in Capital, Preferred | 13,770 | ||
| CommonStock (no-par; authorized 20,000 shares, issued and outstanding5,900 shares) | 584,100 | ||
| RetainedEarnings | 29,000 | ||
| Treasury Stock,1,000 Preferred shares at cost | 9,450 | ||
| Assume that no shares of treasury stock have been sold in thepast.
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Casey DurganLv2
7 May 2018
Related questions
| tockholdersâ Equity | ||||
| Contributed capital | ||||
| Preferred stock (par $20; authorized 12,000 shares, ? issued, of which 700 shares are held as treasury stock) | $ | 160,000 | ||
| Common stock (no-par; authorized 23,000 shares, issued and outstanding 7,000 shares) | 651,000 | |||
| Contributed capital (includes $3,400 from treasury stock transactions) | 19,400 | |||
| Retained earnings | 52,000 | |||
| Cost of treasury stock, preferred | (14,700 | ) | ||
| Required: |
| 1. | Calculate the number of shares of preferred stock issued |
| 2. | Calculate the number of shares of preferred stock outstanding |
| 3. | Calculate the average sale price of the preferred stock when issued. (Round your answer to 2 decimal places.) |
| 4. | Have the treasury stock transactions increased corporate resources or decreased corporate resources? By how much? (Enter the amount as positive value.) |
| 5. | By how much the treasury stock transactions increased (decreased) stockholdersâ equity? (Enter the amount as positive value.) |
| 6. | How much did the treasury stock held cost per share? (Round your answer to 2 decimal places.) |
| 7. | Calculate the value of total stockholdersâ equity |
| 8. | Calculate the average issue price of the common stock: (Round your answer to 2 decimal places.) |
