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At December 31, the records of Seacrest Enterprises provided the following selected and incomplete data: Common stock (par $1; no changes during the current year). Shares authorized, 10,000,000. Shares issued, ?; issue price $10 per share. Shares held as treasury stock, 56,000 shares, cost $11 per share. Net income for the current year, $1,960,400 Common Stock account, $810,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $37,000,000. Required: Complete the following: (Round per share to 2 decimal places.) S c Required: Complete the following: (Round per share to 2 decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of 6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the par value per share will be

At December 31, the records of Seacrest Enterprises provided the following selected and incomplete data: Common stock (par $1; no changes during the current year). Shares authorized, 10,000,000. Shares issued, ?; issue price $10 per share. Shares held as treasury stock, 56,000 shares, cost $11 per share. Net income for the current year, $1,960,400 Common Stock account, $810,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $37,000,000. Required: Complete the following: (Round per share to 2 decimal places.) S c Required: Complete the following: (Round per share to 2 decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of 6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the par value per share will be

FINANCIAL ACCOUNTING
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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At December 31, the records of Seacrest Enterprises provided the following selected and incomplete data: Common stock (par $1; no changes during the current year). Shares authorized, 10,000,000. Shares issued, ?; issue price $10 per share. Shares held as treasury stock, 56,000 shares, cost $11 per share. Net income for the current year, $1,960,400 Common Stock account, $810,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $37,000,000. Required: Complete the following: (Round per share to 2 decimal places.) Required: Complete the following: (Round per share to 2 decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of 6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the par value per share will be
Transcribed Image Text:At December 31, the records of Seacrest Enterprises provided the following selected and incomplete data: Common stock (par $1; no changes during the current year). Shares authorized, 10,000,000. Shares issued, ?; issue price $10 per share. Shares held as treasury stock, 56,000 shares, cost $11 per share. Net income for the current year, $1,960,400 Common Stock account, $810,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $37,000,000. Required: Complete the following: (Round per share to 2 decimal places.) Required: Complete the following: (Round per share to 2 decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of 6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the par value per share will be
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