Fall 2020 Quiz NV24 1.40 pm - Compatibility Mode aw Design Layout Ref: UE Microsoft AutoUpdate Updates are ready to be installed. na 11 ' ' Ad Re Uab x x Av. Av Paragraph Styles Dictate C. All are raise Use the following to answer questions 37-44. It was taken from the Stockholders' Equity section of the Balance Sheet of Montage Co. at December 31, 2019: Preferred stock, 2 par value, 7% cumulative, 100,000 sbs authorized, 20,000 sbs issued & outstanding $ 300,000 Common Stock, $2 par value, 2,000,000 sbs authorized 500,000 shares issued 2 shares outstanding...... 1,000,000 Paid in capital io excess of par - preferred 25,000 Paid in capital in excess of par - common 400,000 Retained earnings 520,000 Treasury stock, 3,000 common sbs. (39,000) Total Stockholder Equity $ 2,386,000 The market price per share of common stock was $40, and the market price per share of preferred stock was $30. 37. What is the par value of the preferred stock? Answer 36. How much is the dividend per share on the preferred stock? Answer 39. How many shares of common stock are outstanding? Answer 40. What was the average price per common share issued? Answer 41. If Montage Co. declared 4 for 1 stock split on the common stock, how many shares would be outstanding immediately after the split? Answer 47. What amount would be transferred from Retained Earnings share or prererred stock was 30. 37. What is the par value of the preferred stock? Answer 38. How much is the dividend per share on the preferred stock? Answer 39. How many shares of common stock are outstanding? Answer 40. What was the average price per common share issued? Answer 41. If Montage Co. declared a 4 for 1 stock split on the common stock, how many shares would be outstanding Immediately after the split? Answer 42. What amount would be transferred from Retained Earnings because of the stock split? Answer 43. Theoretically, what would be the market price per common share Immediately after the stock split? Answer 44. What was the average price per preferred share issued? Answer For Questions 45 & 46 Assume there were 100,000 shares of Montage Co. common stock outstanding. 45. Montage Co. declared a 10% stock dividend when the market price per common share was $30, what amount would be transferred from Retained Earnings because of the stock dividend? Answer 46. How many dollars would be added to the common stock par value account or a.copals of the stock dividend? Answer 47. The term "Salvage Value can be best described as A. The amount an Intangible asset can be purchased B. Expected market value of a fully depreciated asset c. Future expected cost to replace a depreciable asset D. Cost of a depreciable asset minus accumulated depreciation E. None are correct