Question
Analysis of stockholders' equity Star Corporation issued both common and preferred stock during 20X6. The stockholders' equity sections of the company's balance sheets at the
Analysis of stockholders' equity Star Corporation issued both common and preferred stock during 20X6. The stockholders' equity sections of the company's balance sheets at the end of 20X6 and 20X5 follow:
| 20X6 | 20X5 |
Preferred stock, $100 par value, 10% | $ 620000 | $ 500,000 |
Common stock, $12 par value | 2,350,000 | 1,750,000 |
Paid-in capital in excess of par value |
|
|
Preferred | 24,000 | |
Common | 4,620,000 | 3,600,000 |
Retained earnings | 8,470,000 | 6,920,000 |
Total stockholders' equity | $16,044,000 | $12,770,000 |
Compute the number of preferred shares that were issued during 20X6.
Calculate the average issue price of the common stock sold in 20X6.
By what amount did the company's paid-in capital increase during 20X6?
Did Star's total legal capital increase or decrease during 20X6? By what amount?
Please put answer in the following format. I have to place it in a preformated spreadsheet.
A. Preferred shares issued B. Shares issued of common B. Average issued price of common C. Paid-in-capital increase D. Legal capital increase Account to be changed Jan 3, Common Shares sold Share price ort YOUR ANSWERS BASED UPON COURSE START DATE Original Amount 5000 58Step by Step Solution
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