Answered step by step
Verified Expert Solution
Question
1 Approved Answer
LLULIID UD VILI Exercise 11-25 A recent stockholders' equity section of Aluminum Company of America (Alcoa) showed the following (in alphabetical order): additional paid-in capital
LLULIID UD VILI Exercise 11-25 A recent stockholders' equity section of Aluminum Company of America (Alcoa) showed the following (in alphabetical order): additional paid-in capital $6,101, common stock $925, preferred stock $56, retained earnings $7,428, and treasury stock $2,828. All dollar data are in millions.) The preferred stock has 557,740 shares authorized, with a par value of $100 and an annual $3.75 per share cumulative dividend preference. At December 31 of the current year, 557,649 shares of preferred are issued and 546,024 shares are outstanding. There are 1.8 billion shares of $1 par value common stock authorized, of which 924.6 million are issued and 844.8 million are outstanding at December 31. Your answer is partially correct. Try again. Prepare the stockholders' equity section of the current year, including disclosure of all relevant data. (Enter amounts in millions. Enter the account name only and do not provide the descriptive information provided in the question.) ALUMINUM COMPANY OF AMERICA Balance Sheet (Partial) December 31 Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock Common Stock 845 Total Capital Stock 899 TAdditional Paid-in Capital 6101 Total Paid-in Capital J 7000 Retained Earnings 7428 Total Paid-in Capital and Retained Earnings 14428 Less Treasury Stock 2828 Total Stockholders' Equity 17256 LINK TO TEXT LINK TO TEXT
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