Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

[The following information applies to the questions displayed below.) The stockholders' equity section of The Seventies Shop is presented here, THE SEVENTIES SEOP Dalance sheet

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
[The following information applies to the questions displayed below.) The stockholders' equity section of The Seventies Shop is presented here, THE SEVENTIES SEOP Dalance sheet (partial) 1$ in thousands) Stockholders equity: Preferred stock, 650 par valse 0 Common stock, $5 par value 11,500 Additional paid-in capital 18,400 Total paid-in capital 29,900 Retained earnings 44,500 Treasury stock (2.000) Total stockholders' equity $72,400 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands Required: 1. How many shares of preferred stock have been issued? (Enter your answer in total number of shares, not in thousands.) Number of shares Required information [The following information applies to the questions displayed below.) The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousands) Stockholders' equity Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity $ 0 11,500 18,400 29,900 44,500 12,000) $72,400 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. 2. How many shares of common stock have been issued? (Enter your answer in total number of shares, not in thousands.) Number of shares Required Information [The following information applies to the questions displayed below.] The stockholders' equity section of The Seventies Shop is presented here. 6 THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousands) Stockholders' equity: Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity $ 0 11,500 18,400 29,900 44,500 (2.000) $72,400 ces Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. 3. Total pald-in capital is $29.90 million, At what average price per share were the common shares Issued? Common share issued per share The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) (5 in thousands) Stockholders' equity Preferred stock, $50 par value $0 Common stock, $5 par value 11.500 Additional paid-in capital 18,400 Total paid in capital 29,900 Retained earnings 44,500 Treasury stock (2,000 Total stockholders' equity $72,400 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands 4. If retained earnings at the beginning of the period was $36 million and net income during the year was $10.240,000, how much was paid in dividends for the year? (Enter your answer in dollars not in millions. (l.e. 5 should be entered as 5,000,000).) Dividonds paid [The following information applies to the questions displayed below.) The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousanda) Stockholders equity Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid in capital Retained earnings Treasury stock Total stockholders' equity $ 0 11,500 18,400 29,900 44,500 (2.000) $72,400 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. 5. If the treasury stock was purchase at $16 per share, how many shares were purchased? (Enter your answer in total number of shares, not in thousands.) Number of shares Required Information [The following information applies to the questions displayed below.) The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) $ in thousands) Stockholders' equity. Preferred stock, $50 par value Common stock, 55 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity 0 11,500 18,400 29,900 44,500 2.000) $72.400 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. 6. How much was the dividend per share? (Hint Dividends are not paid on treasury stock.) (Round your answer to 2 decimal places.) Dividend per share

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

Study Guide Working Papers For College Accounting, Chapters 1-9

Authors: James A. Heintz, Robert W. Parry

23rd Edition

0357474740, 9780357474747

More Books

Students also viewed these Accounting questions