5Exercise 8-11 (Algo) Common stock balance sheet disclosure LO 8-1The balance sheet caption for common stock is the following:Common stock, $2 par value, 2,440,000 shares authorized, 1,580,000 sharesissued, 1,130,000 shares outstandingRequired:a. Calculate the dollar amount that will be presented opposite this caption.b. Calculate the total amount of a cash dividend of $0.18 per share.c. What accounts for the difference between issued shares and outstanding shares?a. Amount5b. Cash dividendc. Difference between issued shares and outstanding shares$ ?

The objective of the question is to calculate the dollar amount that will be presented opposite the…

Answered: 5 Exercise 8-11 (Algo) Common stock…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Exercise 10-61 (Algorithmic)Issuing and Repurchasing Stock Canary Corp. had the following transactions related to its common and preferred stock: January 15 Sold 50,000 shares of $0.50 par common stock for $12 per share. Sold 2,000 shares of $10 par preferred stock at $14 per share. October 1 Repurchased 3,100 shares of the common stock at $20 per share. Required: Prepare the journal entries for the above transactions. Jan. 15 fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12 fill in the blank 14 fill in the blank 15 (Record sale of preferred and common stock) Oct. 1 fill in the blank 17 fill in the blank 19 (Record purchase of treasury shares)
Exercise 8-13 (Algo) Preferred stock-calculate dividend amounts LO 8-2 Calculate the annual cash dividends required to be paid for each of the following preferred stock issues Required: a. $3.50 cumulative preferred, no par value: 240,000 shares authorized, 123,000 shares issued. (The treasury stock ception of the stockholders equity section of the balance sheet indicates that 41,053 shares of this preferred stock Issue are owned by the company) Note: Round your answer to 2 decimal places. b. 4%, $40 par value preferred, 229,000 shares authorized. 169,000 shares Issued, and 72,726 shares outstanding Note: Round your answer to 2 decimal places. c. 11.8% cumulative preferred, $120 stated value, $130 liquidating value; 64,000 shares authorized, 45,000 shares issued, 22.000 shares outstanding. a. Annual dividends b. Annual dividends Annual dividends
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Problem 10-4A Analyze the stockholders' equity section (LO10-7) [The following information applies to the questions displayed below.] The stockholders' equity section of Velcro World is presented here. VELCRO WORLD Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity: Preferred stock, $1 par value Common stock, $1 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock, 12,000 common shares 5,800 28,000 1,028,600 1,062,400 286,000 (360,000) Total stockholders' equity 988,400 Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands. Problem 10-4A Part 3 3. If the common shares were issued at $28 per share, at what average price per share were the preferred shares issued? Preferred shares issued price per share
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Exercise 11-13A (Algo) Recording and reporting treasury stock transactions LO 11-5 The following information pertains to JAE Corporation at January 1, Year 1: Common stock, $11 par, 14,000 shares authorized, 2,800 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $30,800 12,100 51,200 4 JAE Corporation completed the following transactions during Year 1: 1. Issued 1,150 shares of $11 par common stock for $30 per share. 2. Repurchased 160 shares of its own common stock for $27 per share. 3. Resold 50 shares of treasury stock for $28 per share. Required: a. How many shares of common stock were outstanding at the end of the period? b. How many shares of common stock had been issued at the end of the period? c. Organize the transactions data in accounts under the accounting equation. d. Prepare the stockholders' equity section of the balance sheet reflecting these transactions. Complete this question by entering your answers in the tabs below.…
k Exercise 11-9A (Algo) Recording and reporting common and preferred stock transactions LO 11-4 Eastport Incorporated was organized on June 5, Year 1. It was authorized to issue 400,000 shares of $8 par common stock and 25,000 shares of 5 percent cumulative class A preferred stock. The class A stock had a stated value of $25 per share. The following stock transactions pertain to Eastport Incorporated: a. Issued 21,000 shares of common stock for $13 per share. b. Issued 6,000 shares of the class A preferred stock for $30 per share. c. Issued 59,000 shares of common stock for $16 per share. Required Prepare the stockholders' equity section of the balance sheet immediately after these transactions. EASTPORT INCORPORATED Balance Sheet (partial) For the Year Ended Year 1 Stockholders' Equity Paid-in capital in excess of par, CS Common stock Preferred stock Total Paid-In Capital Total stockholders' equity $ $ 0 0 Next
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ACCT2110 Financial Accounting Chapter 11 Stockholders' Equity Homework Problem 1. The stockholders' equity section of MaiStyle Corporation's balance sheet at December 31 is presented here. MAISTYLE CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding $900,000 Common stock, no par; 750,000 shares authorized, 600,000 shares issued 1,800,000 Total paid-in capital 2,700,000 Retained earnings 1,158,000 Total paid-in capital and retained earnings 3,858,000 Less: Treasury stock (8,000 common shares) (32,000) Total stockholders' equity $3,826,000 Instructions From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? (b) Assuming there is a stated value, what is the stated value of the common stock? (c) What is the par value of the preferred stock? (d) If the annual dividend on preferred stock is $36,000,…

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