Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following items were shown on the balance sheet of Jones Corp. on December 31, 2012: Stockholders Equity Paid-In Capital Common Stock, $10 par value,

The following items were shown on the balance sheet of Jones Corp. on December 31, 2012:

Stockholders Equity

Paid-In Capital

Common Stock, $10 par value, 800,000 shares authorized;

_____ share issued and ______ shares outstanding.$6,000,000

Additional paid-in capital in excess of par value...1,000,000

Total paid-in capital...7,000,000

Retained Earnings......2,000,000

Total paid-in capital and retained earnings...9,000,000

Less: Treasury Stock (25,000 shares).......(500.000)

Total Stockholders Equity....$8,500,000

Complete the following and show your computations:

  1. The number of shares of common stock issued was _________________

  1. The number of shares of common stock outstanding was ________________

  1. The total sales amount of all common stock when issued was $________________

  1. How much did the treasury stock cost per share? $___________________

  1. What was the average issue price of the common stock? $__________________

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

Managerial Accounting Tools For Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell

9th Edition

111970958X, 9781119709589

More Books

Students also viewed these Accounting questions

Question

=+b) Use it to predict the value for January 2007. Section 19.4

Answered: 1 week ago