Question
Was the missing infoormation the name of the company? MS Word attachments don't seem to work, so I pasted the question below. I am looking
Was the missing infoormation the name of the company?
MS Word attachments don't seem to work, so I pasted the question below. I am looking for the answers below, including the calculations used to obtain the answers.
This is a (5) part question
Below is information relating to the stockholders' equity of "X Company" at December 31, 2018:
___________________________________________________
8% preferred stock, $150 par, 10,000 shares authorized and 6,000 issued: $900,000
Common stock, $6.50 par, 500,000 shares authorized 400,000 shares issued and outstanding: $2,600,000
Additional paid-in capital: preferred stock $132,000
Additional paid in capital: common stock $2,970,000
Retained earnings: $1,551,000
(Assume there are no dividends in arrears)
___________________________________________________
Answer the following.Show all calculations.
a) "X Company's" total legal capital at December 31, 2018
b) The total amount of "X Company's" paid-in capital at December 31, 2018.
c) The average price per share at which "X Company's" preferred stock was issued.
d) The book value per share of common stock.
e)The balance in Retained Earnings at the beginning of the year was $1,237,500, and net income for 2018 was $1,600,500. What was the amount of dividend declared on each share of common stock during 2018?
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