Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Exercise 15-10 For a recent 2-year period, the balance sheet of Blossom Company showed the following stockholders' equity data at December 31 (in millions). Additional
Exercise 15-10 For a recent 2-year period, the balance sheet of Blossom Company showed the following stockholders' equity data at December 31 (in millions). Additional paid-in capital Common stock Retained earnings Treasury stock Total stockholders' equity 2017 $ 900 651 7,210 1,755 2016 $ 831 642 5,240 1,008 $7,005 $5,705 214 Common stock shares issued Common stock shares authorized Treasury stock shares 217 500 500 (a) Answer the following questions. (1) What is the par value of the common stock? (Round par value to 2 decimal places, e.g. $3.15.) Par value of common stock (2) What is the cost per share of treasury stock at December 31, 2017, and at December 31, 2016? December 31, 2017 December 31, 2016 Cost per share of Treasury stock (b) Prepare the stockholders' equity section at December 31, 2017. (Enter account name only and do not provide descriptive information.) Blossom Company Balance Sheet (in millions of dollars) (Partial) Stockholders' Equity Additional Paid-in Capital Common Stock Paid-in Capital Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings Y Less Treasury Stock Total Stockholders' Equity
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started