Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE HELP AND SHOW ME HOW TO DO THIS THANK YOU SO MUCH F Enterprises Balance Sheet (partial) At December 31, Year 4 Stockholders' Equity:

PLEASE HELP AND SHOW ME HOW TO DO THIS THANK YOU SO MUCH

F Enterprises

Balance Sheet (partial)

At December 31, Year 4

Stockholders' Equity:

Preferred stock ($75 par)

$150,000

Common stock ($0.05 par)

7,500

Additional Paid in capital

2,246,500

Total paid in capital

2,404,000

Retained earnings

375,000

Treasury stock (4,000 common shares)

(72,000)

Total stockholders' equity

$2,707,000

1. How many shares of preferred stock have been issued? ______

2a. How many shares of common stock have been issued? ______

2b. How many of the common shares are outstanding? ______

3. If the common shares were issued at $15 per share, at what average price per share were the preferred shares issued? $_____

4. If retained earnings at the beginning of the period was $300,000 and $125,000 was earned in net income, what was the amount of dividends declared during the year?$______

5. What was the average cost per share of the treasury stock acquired? $_______

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

Step: 3

blur-text-image

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

Managerial Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

13th edition

978-1285868806, 1285868803, 978-1305691254, 978-1305465640, 1305465644, 978-1285866307

More Books

Students also viewed these Accounting questions