APL Corporation's records included the following stockholders' equity accounts Preferred Shares, par value P150, authorized shares 20,000 shares P. 1,875,000 Share Premium -Preference shares 375,000 Ordinary Shares, P50 par, 100,000 shares authorized 2,000,000 Share Premium Ordinary Shares 1,200,000 Retained Earnings 2,500,000 Treasury Stock, 5,000 shares of Ordinary 475,000 Shares 1. Compute for the number of outstanding shares of

APL Corporation's records included the following stockholders' equity accounts Preferred Shares, par value P150, authorized shares 20,000 shares P. 1,875,000 Share Premium -Preference shares 375,000 Ordinary Shares, P50 par, 100,000 shares authorized 2,000,000 Share Premium Ordinary Shares 1,200,000 Retained Earnings 2,500,000 Treasury Stock, 5,000 shares of Ordinary 475,000 Shares 1. Compute for the number of outstanding shares of

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 following data was reported by ABC Company Authorized shares: 50,000 Issued shares: 35,000 Treasury shares: 7,500 How many shares are outstanding?
Raphael Corporation’s balance sheet shows the following stockholders’ equity section. Preferred stock—5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding $ 50,000 Common stock—$___ par value, 4,000 shares authorized, issued, and outstanding . 80,000 Retained earnings 150,000 Total stockholders’ equity . $280,000 Required 1. What are the par values of the corporation’s preferred stock and its common stock? 2. If no dividends are in arrears at the current date, what is the book value per share of common stock? Round per share value to the nearest cent. 3. If two years’ preferred dividends are in arrears at the current date, what is the book value per share of common stock? Round per share value to the nearest cent. 4. If two years’ preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $11,500, what total amount will be paid to the preferred and to the common shareholders?
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The following data has been collected about Keller Company's stockholders' equity accounts: Common stock $10 par value 21,000 sharesauthorized and 10,500 shares issued, 1,100 shares outstanding $105,000 Paid-in capital in excess of par value, common stock 51,000 Retained earnings 26,000 Treasury stock 12,760 Assuming the treasury shares were all purchased at the same price, the number of shares of treasury stock is:
On October 10, the stockholders’ equity section of Sherman Systems appears as follows. Common stock–$10 par value, 86,000 shares authorized, issued, and outstanding $ 860,000 Paid-in capital in excess of par value, common stock 286,000 Retained earnings 976,000 Total stockholders’ equity $ 2,122,000 Prepare journal entries to record the following transactions for Sherman Systems. Purchased 6,400 shares of its own common stock at $39 per share on October 11. Sold 1,350 treasury shares on November 1 for $45.
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The stockholders’ equity section of Riverbed Corp’s balance sheet at December 31 is presented here. RIVERBED CORPBalance Sheet (partial) Stockholders’ equity Paid-in capital Preferred stock, cumulative, 10,700 shares authorized, 6,400 shares issued and outstanding $ 640,000 Common stock, no par, 770,000 shares authorized, 600,000 shares issued 2,400,000 Total paid-in capital 3,040,000 Retained earnings 1,191,000 Total paid-in capital and retained earnings 4,231,000 Less: Treasury stock (5,800 common shares) 31,000 Total stockholders’ equity $4,200,000 From a review of the stockholders’ equity section, answer the following questions.(a) How many shares of common stock are outstanding? Common stock outstanding enter a number of shares shares (b) Assuming there is a stated value, what is the stated value of the common stock? The stated value of the common stock…