Question
Stockholders' equity Paid-in capital Preferred stock, cumulative,10,833shares authorized,6,500shares issued and outstanding $663,000 Common stock, no par,729,310shares authorized,564,000shares issued 1,692,000 Total paid-in capital 2,355,000 Retained earnings
Stockholders' equity
Paid-in capital
Preferred stock, cumulative,10,833shares authorized,6,500shares issued and outstanding $663,000
Common stock, no par,729,310shares authorized,564,000shares issued 1,692,000
Total paid-in capital 2,355,000
Retained earnings 1,180,000
Total paid-in capital and retained earnings 3,535,000
Less: Treasury stock (7,800common shares) 41,600
Total stockholders' equity $3,493,400
From a review of the stockholders' equity section, answer the following questions.
(a) How many shares of common stock are outstanding?
Common stock outstandingshares...
(b) Assuming there is a stated value, what is the stated value of the common stock?
The stated value of the common stock$per share is...
(c) What is the par value of the preferred stock?
The par value of the preferred stock$per share is....
(d) If the annual dividend on preferred stock is $53,040, what is the dividend rate on preferred stock?
The dividend rate .........%
(e) If dividends of $72,300were in arrears on preferred stock, what would be the balance reported for retained earnings?
The Retained Earnings balance is .....$
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Financial Accounting An Introduction
Authors: Pauline Weetman
4th Edition
0273703404, 978-0273703402
