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ACCT 2121 FALL 2018 HUNTER) CHAPTER 11 IN-CLASS AND HOMEWORK EXERCISES 13. HW11#13: COMMON STOCK: The following items were shown on the Balance Sheet of Martin Corporation on December 31, 2017: Complete the Partial Balance Sheet - Stockholders' Equity Stockholders' Equity Paid-In Capital Capital Stock Common stock, $5 par value, 750,000 shares authorized; shares issued andoutstanding $3,000,00O Additional paid-in capital Retained Earnings Less: Treasury stock (20,000 shares) In excess of par value 180,0Oo 3,180,000 500,000 Total paid in capital Total paid-in capital and retained earnings 280,000 Total stockholders' equity Instructions Complete the following statements and show your computations. (a) The number of shares of common stock issued was (b) The number of shares of common stock outstanding was (c) The total price per share of the common stock when issued was $ (d) How much did the treasury stock cost per share? S (e) What was the Total paid-in capital and retained earnings? $ (f) What was the Total stockholders' equity? S - EXI 1#14. Total stockholders' equity is $150,000. If the common stock account has a balance of $30,000, paid-in capital in excess of par value common stock is $5,000, beginning Retained Earnings of $70,000, Net Income $30,000, and no dividends. What is the amount of Preferred ock? $15,000 B) $25,000 C) $45,000 D) $35,000 loo, oo 00o EX11415:-PREFERRED STOCK: In its first year of operations, Martinez Corporation had the following transactions pertaining to its $10 par value preferred stock. Martinez Corporation has a December 31 fiscal year end. Feb. 1 Issued 8,000 shares for cash at $24 per share