The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,400 shares) Retained Earnings i Treasury Stock, 1,000 Preferred shares at cost Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.) Answer is not complete. 1. The number of shares of preferred stock issued was 2 The number of shares of preferred stock outstanding was 3. The average issue price of the preferred stock was 4 The average issue price of the common stock was 5 The treasury stock transaction increased (decreased) stockholders' equity by 6. The treasury stock cost 7. Total stockholders' equity is $ 112,000 16,520 665,600 34,000 (9,700) 5,100 per share per share
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,400 shares) Retained Earnings i Treasury Stock, 1,000 Preferred shares at cost Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.) Answer is not complete. 1. The number of shares of preferred stock issued was 2 The number of shares of preferred stock outstanding was 3. The average issue price of the preferred stock was 4 The average issue price of the common stock was 5 The treasury stock transaction increased (decreased) stockholders' equity by 6. The treasury stock cost 7. Total stockholders' equity is $ 112,000 16,520 665,600 34,000 (9,700) 5,100 per share per share
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 1MP: Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--,...
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