Check my woreThe authorized share capital of the Alfred Cake Company is 120,000 shares. The equity is currently shown in the company's books asfollows:$ 65,000Common stock ($1 par value)Additional paid-in capitalRetained earnings15,00035,000$115,000Common equityTreasury stock (2,000 shares)9,000Net common equity$106,000a. How many shares are issued?Number of shares issuedb. How many shares are outstanding?Outstanding sharesPrev1 of 8Next >to search

a. Number of shares issued = Common stock capital / par value per share = $65000 / $1 = 65000 shares

Check my The authorized share capital of the Alfred Cake Company is 120,000 shares. The equity is currently shown in the company's books as follows: Common stock ($1 par value) Additional paid-in capital $ 65,000 15,000 35,000 $115,000 Retained earnings Common equity Treasury stock (2,000 shares) 9,000 Net common equity $106,000 a. How many shares are issued? Number of shares issued b. How many shares are outstanding? Outstanding shares

Check my The authorized share capital of the Alfred Cake Company is 120,000 shares. The equity is currently shown in the company's books as follows: Common stock ($1 par value) Additional paid-in capital $ 65,000 15,000 35,000 $115,000 Retained earnings Common equity Treasury stock (2,000 shares) 9,000 Net common equity $106,000 a. How many shares are issued? Number of shares issued b. How many shares are outstanding? Outstanding shares

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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Using the following accounts and balances, prepare the stockholders' equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 1,000 shares have been reacquired. Common Stock, $70 par $2,730,000 Paid-In Capital in Excess of Par 123,070 Paid-In Capital from Sale of Treasury Stock 6,070 Retained Earnings 125,000 Treasury Stock 4,570
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