corporation reported the following information at December 31, 2014: 12% cumulative, nonparticipating preferred stock, $10 par, 50,000 shares authorized; callable at par value..........$500,000 Common stock, $2 par, 30,000 shares authorized..........$40,000 Paid in Capital: Preferred Stock ..........$50,000 Common Stock...........$50,000 Total Capital Stock...........$640,000 Retained Earnings..........30,000 Less: Treasury stock (500 common shares at cost).........5,000 Total Stockholders' Equity.............$665,000 How many shares of preferred stock are issued?
corporation reported the following information at December 31, 2014: 12% cumulative, nonparticipating preferred stock, $10 par, 50,000 shares authorized; callable at par value..........$500,000 Common stock, $2 par, 30,000 shares authorized..........$40,000 Paid in Capital: Preferred Stock ..........$50,000 Common Stock...........$50,000 Total Capital Stock...........$640,000 Retained Earnings..........30,000 Less: Treasury stock (500 common shares at cost).........5,000 Total Stockholders' Equity.............$665,000 How many shares of preferred stock are issued?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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corporation reported the following information at December 31, 2014:
12% cumulative, nonparticipating preferred stock, $10 par, 50,000 shares authorized; callable at par value..........$500,000
Common stock, $2 par, 30,000 shares authorized..........$40,000
Paid in Capital:
Preferred Stock ..........$50,000
Common Stock...........$50,000
Total Capital Stock...........$640,000
Less:
Total
How many shares of preferred stock are issued?
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