A corporation has the following account balances: Common stock, $1 par value, $42000; Paid-in Capital in Excess of Par, $730000.Based on this information, theO number of shares outstanding is 772000.O legal capital is $772000.O number of shares issued is 42000.O average price per share issued is $6.96.

Shareholder's equity refers to the total amount of investment that the shareholders of an…

Answered: A corporation has the following account…

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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The charter of a corporation provides for the issuance of 106,898 shares of common stock. Assume that 42,395 shares were originally issued and 4,642 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared? a.$42,395 b.$106,898 c.$4,642 d.$75,506
KA.
Your answer is partially correct. Try again. The stockholders' equity section of Bonita Corporation consists of common stock ($10 par) $2,400,000 and retained earnings $527,000. A 10% stock dividend (24,000 shares) is declared when the market price per share is $14. Show the before-and-after effects of the dividend on the following. (a) The components of stockholders' equity. (b) Shares outstanding. (c) Par value per share. Stockholders' equity Outstanding shares. Par value per share x ✓ Before Dividend 2927000 After Dividend
State the stockholder’s equity of the Alphabet Corporation if it has a current net profit of $1,500,000, beginning-of-the-period retained earnings of $3,675,000, 1 million shares of common stock issued at a par value of $1 per share, and paid-in capital in excess of par of $12.50 per share?
The charter of a corporation provides for the issuance of 94,560 shares of common stock. Assume that 42,608 shares were originally issued and 3,393 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared? a.$42,608 b.$94,560 c.$3,393 d.$78,430
Grayson Corporation has 500,000 shares authorized, 428,000 shares issued, and 28,000 shares of treasury stock. At this point, Grayson Corporation has $880,000 of assets, $216,000 of liabilities, $432,000 of common stock, and $232,000 of retained earnings. Further, assume that the market value of the company's common stock is $10 per share. Required: a. Determine the number of shares of stock that is outstanding. b. Determine the book value per share.
The charter of a corporation provides for the issuance of 108,244 shares of common stock. Assume that 44,779 shares were originally issued and 4,084 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared? a. $4,084 b. $44,779 c. $108,244 d. $81,390
he charter of a corporation provides for the issuance of 99,542 shares of common stock. Assume that 39,624 shares were originally issued and 3,225 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared? a.$3,225 b.$99,542 c.$39,624 d.$72,798
A corporation has 71,868 shares of $36 par stock outstanding that has a current market value of $312 per share. If the corporation issues a 4-for-1 stock split, the market value of the stock will fall to approximately a.$17,967 b.$9 c.$78 d.$276
Ashkenazi Companies has the following stockholders' equity account: Common stock (425,901 shares at $3 par) Paid-in capital in excess of par Retained earnings Total stockholders' equity $1,277,703 3,383,532 938,765 $5,600,000 Assuming that state laws define legal capital solely as the par value of common stock, how much of a per-share dividend can Ashkenazi pay? If legal capital were more broadly defined to include all paid-in capital, how much of a per-share dividend can Ashkenazi pay? Assuming that state laws define legal capital solely as the par value of common stock, the per-share dividend Ashkenazi can pay is $ (Round to the nearest cent.)
The charter of a corporation provides for the issuance of 118,000 shares of common stock. Assume that 44,000 shares were originally issued and 3,100 were subsequently reacquired. What is the amount of cash dividends to be paid if a $1-per-share dividend is declared? a.$44,000 b.$118,000 c.$40,900 d.$3,100
A corporation has the following account balances: Common Stock. $1 par value, $80000; Paid-in Capital in Excess of Par Value, $2710000. Based on this information, the O average price per share issued is $3.49. O number of shares issued is 80000 O number of shares outstanding is 2790000. O legal capital is $2790000.

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