Homework Answers
a)
Paid in capital., preferred stock = $400,000
Number of shares of preferred stock issued = 40,000
Par value of 1 preferred stock = Paid in capital., preferred stock/Number of shares of preferred stock issued
= 400,000/40,000
= $10
b)
Dividend rate on preferred stock = 5%
Hence, dividend per share of preferred stock = 10 x 5%
= $0.5
c)
Number of common shares outstanding = Number of common shares issued - Treasury shares
= 40,000 - 2,000
= 38,000
d)
Average issue price of common stock = (Paid in capital, par common stock + Additional paid in capital in excess of par, common stock)/Number of common shares issued
= (800,000 + 100,000)/40,000
= 900,000/40,000
= $22.5
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Exercise 11-11
The stockholders’ equity section of Monty Corp. at December 31
is as follow
Monty Corp.
Balance Sheet(Partial)
Paid-in capital
Preferred stock, cumulative, 14,000 shares
authorized, 9,800 shares issued and outstanding
$588,000
Common stock, no par, 880,000 shares
authorized, 560,000 shares issued
1,120,000
Total paid-in capital
1,708,000
Retained earnings
1,858,000
Total paid-in
capital and retained earnings
3,566,000
Less: Treasury stock (12,000 common shares)
62,400
Total
stockholders’ equity
$3,503,600
From a review of the stockholders’ equity section, as chief
accountant,...
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Please give me full answer
Problem 8-25 The stockl s as tollows.qty nalyzing the stockholders' equity section of the balance sheet bolders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2016, LO 8-2, 8-4, 8-5, 8-7 by stockholders'Equity -in capital Paid-dered stock, ? par value, 6% cumulative, CHECK FIGURES a. Par value per share: $20 b. Dividend per share: $1.20 100,000 shares authorized. 10,000 shares issued and outstanding ommon stock, $10 stated value, 200,000 shares...
Exercise 11-11
The stockholders’ equity section of Monty Corp. at December 31
is as follow
Monty Corp.
Balance Sheet(Partial)
Paid-in capital
Preferred stock, cumulative, 14,000 shares
authorized, 9,800 shares issued and outstanding
$588,000
Common stock, no par, 880,000 shares
authorized, 560,000 shares issued
1,120,000
Total paid-in capital
1,708,000
Retained earnings
1,858,000
Total paid-in
capital and retained earnings
3,566,000
Less: Treasury stock (12,000 common shares)
62,400
Total
stockholders’ equity
$3,503,600
From a review of the stockholders’ equity section, as chief
accountant,...
The stockholders’ equity section of the balance sheet for Mann
Equipment Co. at December 31, 2018, is as follows.
Stockholders' Equity Paid-in capital Preferred stock,? par value, 4% cumulative, 290,000 shares authorized, 59,000 shares $590,006 1ssued and outstanding Common stock, $15 stated value, 340,000 shares authorized, 59,000?? shares issued and 885,000 49,000 outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated 295,000 value-Common Total paid-in capital Retained earnings Treasury stock, 3,000 shares Total stockholders equity 1,819,000...
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