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At December 31, 2013, the records of Nortech Corporation provided the following selected and incomplete data: CP11-3 Finding Missing Amounts [LO 11-2, LO 11-3, LO
At December 31, 2013, the records of Nortech Corporation provided the following selected and incomplete data:
CP11-3 Finding Missing Amounts [LO 11-2, LO 11-3, LO 11-5] At December 31, 2013, the records of Nortech Corporation provided the following selected and incomplete data Common stock (par $1; no changes during 2013). Shares authorized, 500,000. Shares issued, ssue price $29 per share. Common Stock account $270,000. Shares held as treasury stock, 3,700 shares, cost $27 per share. Net income for 2013, $292,930. Dividends declared and paid during 2013, $85,216. Retained Earnings balance, January 1, 2013, $162,000. Required: Complete the following: TIP: To determine the number of shares issued, divide the balance in the Common Stock account by the par value per share. (Round "per share values" to 2 decimal places.) Shares authorized Shares issued Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Dividends paid per share of common stock is Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of R Assume that the board of directors approved a 2-for-1 stock split. After the stock split, the par value per share will beStep by Step Solution
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