Refer to Snow Corporations statement of stockholders equity in Exhibit 4 to answer the following questions: (1)
Question:
(1) At what price per share were the 10,000 shares of common stock sold?
(2) What was the conversion price per share of the common stock?
(Round to the nearest cent.)
(3) At what price was the common stock selling on the date of the stock dividend?
(4) At what price per share was the treasury stockpurchased?
Transcribed Image Text:
Snow Corporation Statement of Stockholders' Equity For the Year Ended December 31, 2015 Preferred Stock Common Additional $100 Par Value Stock $10 Paid-in Retained 896 Convertible Par Value Capital Earnings $ 800,000 600,000 S 600,000 $1,200,000 540,000 Treasury Stock Total Balance, December 31, 2014 Net income Issuance of 10,000 shares of $3,200,000 540,000 common stock Conversion of 2,000 shares of preferred stock to 6,000 shares of common stock 10 percent stock dividend on common stock, 7,600 shares Purchase of 1,000 shares of treasury stock Cash dividends: 100,000 400,000 60,000 140,000 76,000 304,000 (380,000) 500,000 (200,000) (48,000) (48,000) Preferred stock Common stock (48,000) (95,200) 836,000 $1,444,000 $1,216,800 S(48,000) $4,048,800 (48,000) (95,200) Balance, December 31, 2015 S 600,000
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Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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