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11) Presented below is the information related to Purple Corporation: Common Stock, S6 par, 100,000 shares issued and outstanding Paid-in-Capital in Excess of ParCommon Stock
11) Presented below is the information related to Purple Corporation: Common Stock, S6 par, 100,000 shares issued and outstanding Paid-in-Capital in Excess of ParCommon Stock $8 per share Preferred 6% Stock, $12 par, 400,000 shares issued and outstanding Paid-in-Capital in Excess of Par-Preferred Stock $6 per share Retained Earnings $620,000 Accumulated gain from comprehensive income $60,000 The total stockholder's equity of Purple Corporation is? 12) Green Company issued 20,000 shares of $6 par common stock. Eight months later Green acquired 5,000 shares of its own common stock at $12 per share. Two months later Green sold 1,800 of these shares at $18 per share. If the cost method is used to record treasury stock transactions, to record the sale of the 1,800 treasury shares, Green should credit APIC-Treasury Stock at? 13) Presented below is the stockholders' equity section of Blue Corporation at December 31, 2020: Common stock, par value $15; authorized 75,000 shares; issued and outstanding 55,000 shares $ Paid-in-capital in excess of par value 420,000 Retained earnings 650,000 During 2021, the following transactions occurred related to stockholder' equity: 2,000 shares were reacquired at $28 per share. 4,000 shares were reacquired at $35 per share. 3,100 shares of treasury stock were sold at $30 per share. For the year ended December 31, 2021, Blue reported net income of $450,000. Assuming Blue accounts for treasury stock under the cost method, what should it report as total stockholders' equity on its December 31, 2021, balance sheet? 2
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