Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I was able to calculate everything except the Additional Capital. Can someone please help me? Please show me how you came up with the answer

I was able to calculate everything except the Additional Capital. Can someone please help me? Please show me how you came up with the answer as well so I can understand how to do future problems, please.

image text in transcribed

The balance sheet caption for common stock is the following: 14.28 points Common stock without par value, 3,600,000 shares authorized, 830,000 shares issued, and 700,000 shares outstanding $3,200,000 Required: a. Calculate the average price at which the shares were issued. b. If these shares had been assigned a stated value of $1 each, show how the caption here would be different. c. If a cash dividend of $0.12 per share were declared, calculate the total amount of cash that would be paid to stockholders. d. What accounts for the difference between issued shares and outstanding shares? Answer is not complete. Required A Required B Required C Required D If these shares had been assigned a stated value of $1 each, show how the caption here would be different. $ 830,000 Common stock at stated value of $1 per share; 7,500,000 shares authorized, 3,000,000 issued and 2,700,000 shares outstanding Additional paid in capital Total paid in capital $ 830,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Fundamental financial accounting concepts

Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward

8th edition

978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365

More Books

Students also viewed these Accounting questions

Question

What is contingent selection?

Answered: 1 week ago

Question

Always have the dignity of the other or others as a backdrop.

Answered: 1 week ago