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5. XYZ reported the following information at December 31, 2018: Preferred stock, 12%, $1 par, 50,000 shares authorized, issued, and outstanding; cumulative; non-participating; callable at
5. XYZ reported the following information at December 31, 2018: Preferred stock, 12%, $1 par, 50,000 shares authorized, issued, and outstanding; cumulative; non-participating; callable at par value Common stock, $2 par, 30,000 shares authorized Retained earnings Additional paid-in capital-common Total contributed capital and retained earnings Less: Treasury stock (500 common shares at cost) Total stockholders' equity $ 50,000 40,000 50,000 30,000 $170,000 (5,000) $165,000 Answer the following questions for XYZ by placing the correct response in the space provided. A) How many shares of common stock are issued? B) How many shares of preferred stock are issued? C) How many common shares are outstanding? D) How many preferred shares are outstanding? E) How many of the common shares will receive dividends if and when they are paid? F) How many of the preferred shares will receive dividends if and when they are paid? 6. The Stockholders' Equity section of ABC, Inc.'s balance sheet on January 1, 2018, appeared as follows: Common stock, $2 par, 20,000 shares issued and outstanding Additional paid-in capital-common Retained earnings Total contributed capital and retained earnings Less: Cost of treasury stock (10,000 shares) Total stockholders' equity $ 40,000 120,000 300,000 $460,000 (80,000) $380,000 A) On March 1, 2018, ABC resold 800 shares of treasury stock at $25 per share. What is the effect of the March 1 transaction on the accounting equation? Balance Sheet Stockholders' Liabilities Equity Income Statement Net
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