Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Presented below is a partial balance sheet showing the stockholders' equity section of Dan Corporation on December 31, 2020: Dan Corporation Balance Sheet (partial) December
Presented below is a partial balance sheet showing the stockholders' equity section of Dan Corporation on December 31, 2020: Dan Corporation Balance Sheet (partial) December 31, 2020 Stockholders' equity Paid-in capital Capital Stock 10% preferred stock, $50 par value, 15,000 shares authorized, (A) shares issued and outstanding Common stock, no par, (B) stated value, 100,000 shares authorized, 80,000 shares issued and 50,000 outstanding $400,000 (C) Total Capital stock 2,000,000 Additional paid in-capital In excess of par value-preferred stock $30,000 In excess of stated value- common stock 100,000 From Treasury Stock 50,000 Total additional paid in capital 180,000 Total paid in-capital (D) Retained Earnings Total paid in-capital and retained earnings Less: Treasury stock-common stock (E) (at cost) Total stockholder's equity 70,000 2,250,000 (500,000) $1,750,000 Missing amount, A is equal to: * 11,000 shares 15,000 shares 8,000 shares 6,000 shares None of the above Missing amount B is equal to: * $50 $32 $20 $0 None of the above Missing amount C is equal to:* $1,600,000 $2,400,000 $160,000 $180,000 None of the above Missing amount D is equal to: * $1,820,000 $2,000,000 $250,000 $2,180,000 None of the above Missing amount E, is equal to: * 130,000 shares 40,000 shares 20,000 shares 160,000 shares None of the above
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