Question
The following information is provided for Company ($ millions). Retained earnings, beginning balance $2,520,000 Common stock, $__ par, 280,000 shares authorized, 140,000 shares issued 2,800,000
The following information is provided for Company ($ millions).
| Retained earnings, beginning balance | $2,520,000 |
| Common stock, $__ par, 280,000 shares authorized, 140,000 shares issued | 2,800,000 |
| Treasury stock, 2,800 shares | 56,000 |
| Paid-in capital in excess of par | 1,120,000 |
| Bonds payable | 560,000 |
| Net income for 2020 (not included in retained earnings above) | 532,000 |
| Dividends declared and paid during 2020 (not included in retained earnings above) | 224,000 |
Determine the value of the following items:
- Total retained earnings at end of 2020
- Par value per share
- Number of shares outstanding
- Total stockholders equity
- Average original selling price per share
- Cost per share of treasury stock
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
2nd edition
9781305727557, 1285453824, 9781337116619, 130572755X, 978-1285453828
