at december 31st, the jeter company had the following ending balances retained earnings - $100,000 preferred stock ($100 par, 7% cumulative, 10,000 authorized, 5,000 issued and outstaing)-500,000 treasury stock $35,000 Additional paid in captial - common stock 400,000 additional paid in capital - preferred stock - 50,000 Common stock (5,000 par value, 100,000 shares authorized, 60,000 issued) - 3000 Prepare the stockholder equity section of the balance sheet in good form with all of the required disclosures

at december 31st, the jeter company had the following ending balances retained earnings - $100,000 preferred stock ($100 par, 7% cumulative, 10,000 authorized, 5,000 issued and outstaing)-500,000 treasury stock $35,000 Additional paid in captial - common stock 400,000 additional paid in capital - preferred stock - 50,000 Common stock (5,000 par value, 100,000 shares authorized, 60,000 issued) - 3000 Prepare the stockholder equity section of the balance sheet in good form with all of the required disclosures

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 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 6,200 shares) Retained Earnings Treasury Stock, 1,000 Preferred shares at cost $108,000 15,390 632,400 32,000 (9,600) 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.) 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 per share 4. The average issue price of the common stock was 5. The treasury stock transaction increased (decreased) stockholders' equity by 6. The…
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