Question
On 31/12/2020, the stockholders equity of BST Corporation was as follows: Paid in capital: Preferred stock, $ 100 par, authorized 20,000 shares, issued and Outstanding
On 31/12/2020, the stockholders equity of BST Corporation was as follows:
Paid in capital: | |
Preferred stock, $ 100 par, authorized 20,000 shares, issued and Outstanding 4,000 shares | $400,000 |
Common stock, $ 5 par, authorized 2 million shares, issued and Outstanding ??????? shares | $1,500,000 |
Common stock dividends distributable | $75,000 |
Paid in capital in excess of par- common | $200,000 |
Paid in capital in excess of par- preferred | $82,000 |
Total paid in Capital | $2,257,000 |
Retained Earnings | $540,000 |
Total stockholders Equity | $2,797,000 |
Early in January 2021, the stock dividends was issued. Soon after that, the company applied a common stock normal split at a ratio of 1 to 2. Finally, the company re-acquired some of its common shares from the market, by paying $200,000, when the market price was $ 4 per share.
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