Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

DeZurik Corporation had the following stockholders' equity section in its June 30,2022 , balance sheet (in thousands, except share and per share amounts): Required: a.

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
DeZurik Corporation had the following stockholders' equity section in its June 30,2022 , balance sheet (in thousands, except share and per share amounts): Required: a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30, 2022. c. What was the average issue price of common stock shown on the June 30, 2022, balance sheet? d. How many shares of Zreasury stock does DeZurik Corporation own at June 30, 2022? e. Assume that the treasury shares were purchased for $16 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30,2022 . f. Calculate the retained earnings balance at June 30,2022, after you have completed parts a to e. (Hint: Keep in mind that Treasury Stock is a contra account) 9. Assume that the Retained Earnings balance on July 1, 2021, was $7,822,122 (in thousands) and that net income for the year ended June 30, 2022, was $878 (in thousands). The 2022 preferred dividends were paid in full, and no other dividend transactions were recorded during the year. Verify that the amount shown in the solution to part f is correct. (Hint: Prepare a statement of retained earnings or do a T-account analysis to determine the June 30,2022 , balance) a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30, 2022. c. What was the average issue price of common stock shown on the June 30,2022 , balance sheet? d. How many shares of treasury stock does DeZurik Corporation own at June 30,2022 ? e. Assume that the treasury shares were purchased for $16 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30,2022 . f. Calculate the retained earnings balance at June 30,2022, after you have completed parts a to e. (Hint: Keep in mind that Treasury Stock is a contra account.) 9. Assume that the Retained Earnings balance on July 1, 2021, was $7,822,122 (in thousands) and that net income for the year ended June 30, 2022, was $878 (in thousands). The 2022 preferred dividends were paid in full, and no other dividend transactions were recorded during the year. Verify that the amount shown in the solution to part f is correct. (Hint: Prepare a statement of retained earnings or do a T-account analysis to determine the June 30,2022 , balance.) Complete this question by entering your answers in the tabs below. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. Note: Round your answers to 2 dedmal places. ( e.g., 32.16) Required: a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30,2022. c. What was the average issue price of common stock shown on the June 30,2022 , balance sheet? d. How many shares of treasury stock does DeZurik Corporation own at June 30, 2022? e. Assume that the treasury shares were purchased for $16 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30,2022 . f. Calculate the retained earnings balance at June 30, 2022, after you have completed parts a to e. (Hint: Keep in mind that Treasury Stock is a contra account.) 9. Assume that the Retained Earnings balance on July 1, 2021, was $7,822,122 (in thousands) and that net income for the year ended June 30,2022 , was $878 (in thousands). The 2022 preferred dividends were paid in full, and no other dividend transactions were recorded during the year. Verify that the amount shown in the solution to part f is correct. (Hint: Prepare a statement of retained earnings or do a T-account analysis to determine the June 30 , 2022, balance.) Complete this question by entering your answers in the tabs below. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30,2022 . Note: Enter your answer in thousands of dollars. c. What was the average issue price of common stock shown on the June 30, 2022, balance sheet? Note: Round your answer to 2 decimal places, (e.9.,32.16) d. How many shares of treasury stock does DeZurik Corporated own at June 30, 2022? Required: a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30, 2022 . c. What was the average issue price of common stock shown on the June 30,2022 , balance sheet? d. How many shares of treasury stock does DeZurik Corporation own at June 30,2022 ? e. Assume that the treasury shares were purchased for $16 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30,2022 f. Calculate the retained earnings balance at June 30,2022, after you have completed parts a to e. (Hint: Keep in mind that Treasury Stock is a contra account) 9. Assume that the Retained Eamings balance on July 1,2021, was \$7,822,122 (in thousands) and that net income for the year ended June 30,2022 , was $878 (in thousands). The 2022 preferred dividends were paid in full, and no other dividend transactions were recorded during the year. Verify that the amount shown in the solution to part f is correct. (Hint: Prepare a statement of retained earnings or do a T-account analysis to determine the June 30,2022 , balance.) Complete this question by entering your answers in the tabs below. e. Assume that the treasury shares were purchased for $16 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30,2022 . Note: Enter your answer in thousands of dollars. f. Coiculate the retained earnings balance at June 30, 2022, after you have completed parts a to e. (Hint: Keep in mind that Treasury Stock is a contra account.) Note: Enter your answer in thousands of doliars. Required: a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculote the amount that should be shown on the balance sheet for common stock at June 30 , 2022 . c. What was the average issue price of common stock shown on the June 30,2022 , balance sheet? d. How many shares of treasury stock does DeZurik Corporation own at June 30, 2022? e. Assume that the treasury shares were purchased for $16 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30,2022 1. Calculate the retained earnings balance at June 30,2022 , after you have completed parts a to e. (Hint: Keep in mind that Treasury Stock is a contra account.) 9. Assume that the Retained Earnings balance on July 1,2021, was $7,822,122 (in thousands) and that net income for the year ended June 30,2022 , was $878 (in thousands). The 2022 preferred dividends were poid in full, and no other dividend transoctions were recorded during the year. Verify that the amount shown in the solution to part f is correct. (Hint Prepare a statement of retained earnings or do a T-account analysis to determine the June 30, 2022, balance) Complete this question by entering your answers in the tabs below. Assume that the Retained Earnings balance on July 1, 2021; was 56,945 (in thousands) and that net income for the year ended June 30,2022 , was 1878 (in thousands), The 2022 preferred dividends were paid in full, and no other dividend transactions were recorded during the year. Verify that the ampunt shown in the solution to part f is correct. (Hint: Prepare a statement of retained earnings or do a Traccount analysis to dtermine the June 30, 2022, balance.) DeZurik Corporation had the following stockholders' equity section in its June 30,2022 , balance sheet (in thousands, except share and per share amounts): Required: a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30, 2022. c. What was the average issue price of common stock shown on the June 30, 2022, balance sheet? d. How many shares of Zreasury stock does DeZurik Corporation own at June 30, 2022? e. Assume that the treasury shares were purchased for $16 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30,2022 . f. Calculate the retained earnings balance at June 30,2022, after you have completed parts a to e. (Hint: Keep in mind that Treasury Stock is a contra account) 9. Assume that the Retained Earnings balance on July 1, 2021, was $7,822,122 (in thousands) and that net income for the year ended June 30, 2022, was $878 (in thousands). The 2022 preferred dividends were paid in full, and no other dividend transactions were recorded during the year. Verify that the amount shown in the solution to part f is correct. (Hint: Prepare a statement of retained earnings or do a T-account analysis to determine the June 30,2022 , balance) a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30, 2022. c. What was the average issue price of common stock shown on the June 30,2022 , balance sheet? d. How many shares of treasury stock does DeZurik Corporation own at June 30,2022 ? e. Assume that the treasury shares were purchased for $16 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30,2022 . f. Calculate the retained earnings balance at June 30,2022, after you have completed parts a to e. (Hint: Keep in mind that Treasury Stock is a contra account.) 9. Assume that the Retained Earnings balance on July 1, 2021, was $7,822,122 (in thousands) and that net income for the year ended June 30, 2022, was $878 (in thousands). The 2022 preferred dividends were paid in full, and no other dividend transactions were recorded during the year. Verify that the amount shown in the solution to part f is correct. (Hint: Prepare a statement of retained earnings or do a T-account analysis to determine the June 30,2022 , balance.) Complete this question by entering your answers in the tabs below. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. Note: Round your answers to 2 dedmal places. ( e.g., 32.16) Required: a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30,2022. c. What was the average issue price of common stock shown on the June 30,2022 , balance sheet? d. How many shares of treasury stock does DeZurik Corporation own at June 30, 2022? e. Assume that the treasury shares were purchased for $16 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30,2022 . f. Calculate the retained earnings balance at June 30, 2022, after you have completed parts a to e. (Hint: Keep in mind that Treasury Stock is a contra account.) 9. Assume that the Retained Earnings balance on July 1, 2021, was $7,822,122 (in thousands) and that net income for the year ended June 30,2022 , was $878 (in thousands). The 2022 preferred dividends were paid in full, and no other dividend transactions were recorded during the year. Verify that the amount shown in the solution to part f is correct. (Hint: Prepare a statement of retained earnings or do a T-account analysis to determine the June 30 , 2022, balance.) Complete this question by entering your answers in the tabs below. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30,2022 . Note: Enter your answer in thousands of dollars. c. What was the average issue price of common stock shown on the June 30, 2022, balance sheet? Note: Round your answer to 2 decimal places, (e.9.,32.16) d. How many shares of treasury stock does DeZurik Corporated own at June 30, 2022? Required: a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30, 2022 . c. What was the average issue price of common stock shown on the June 30,2022 , balance sheet? d. How many shares of treasury stock does DeZurik Corporation own at June 30,2022 ? e. Assume that the treasury shares were purchased for $16 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30,2022 f. Calculate the retained earnings balance at June 30,2022, after you have completed parts a to e. (Hint: Keep in mind that Treasury Stock is a contra account) 9. Assume that the Retained Eamings balance on July 1,2021, was \$7,822,122 (in thousands) and that net income for the year ended June 30,2022 , was $878 (in thousands). The 2022 preferred dividends were paid in full, and no other dividend transactions were recorded during the year. Verify that the amount shown in the solution to part f is correct. (Hint: Prepare a statement of retained earnings or do a T-account analysis to determine the June 30,2022 , balance.) Complete this question by entering your answers in the tabs below. e. Assume that the treasury shares were purchased for $16 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30,2022 . Note: Enter your answer in thousands of dollars. f. Coiculate the retained earnings balance at June 30, 2022, after you have completed parts a to e. (Hint: Keep in mind that Treasury Stock is a contra account.) Note: Enter your answer in thousands of doliars. Required: a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculote the amount that should be shown on the balance sheet for common stock at June 30 , 2022 . c. What was the average issue price of common stock shown on the June 30,2022 , balance sheet? d. How many shares of treasury stock does DeZurik Corporation own at June 30, 2022? e. Assume that the treasury shares were purchased for $16 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30,2022 1. Calculate the retained earnings balance at June 30,2022 , after you have completed parts a to e. (Hint: Keep in mind that Treasury Stock is a contra account.) 9. Assume that the Retained Earnings balance on July 1,2021, was $7,822,122 (in thousands) and that net income for the year ended June 30,2022 , was $878 (in thousands). The 2022 preferred dividends were poid in full, and no other dividend transoctions were recorded during the year. Verify that the amount shown in the solution to part f is correct. (Hint Prepare a statement of retained earnings or do a T-account analysis to determine the June 30, 2022, balance) Complete this question by entering your answers in the tabs below. Assume that the Retained Earnings balance on July 1, 2021; was 56,945 (in thousands) and that net income for the year ended June 30,2022 , was 1878 (in thousands), The 2022 preferred dividends were paid in full, and no other dividend transactions were recorded during the year. Verify that the ampunt shown in the solution to part f is correct. (Hint: Prepare a statement of retained earnings or do a Traccount analysis to dtermine the June 30, 2022, balance.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie

11th Edition

9780730382737, 9780730382737

Students also viewed these Accounting questions