Initial sale price of common stock Hudson-Perry Recordings Inc has one issue of preferred stock and one issue of common stock outstanding. Given their stockholders' equity account that follows, determine the original price per share at which the firm sold its single issue ofcommon stock.Stockholders' Equity ($000)Preferred stockCommon stock ($0.21 par, 1,406,000 shares outstanding)Paid-in capital excess of par on common stockRetained earningsTotal stockholders' equityThe original price per share is $ (Round to the nearest cent.)$22429519,4671,809$21,795C

The given details related to the firm's common stock are as follows:Par value: $0.21shares…

Answered: Initial sale price of common stock…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The stockholders' equity section of Ayayai Corp.'s balance sheet consists of common stock ($7 par) $840,000 and retained earnings $400,000. A 10% stock dividend (12,000 shares) is declared when the market price per share is $15. (a) Show the before-and-after effects of the dividend on the components of stockholders' equity. Before Dividend After Dividend $4 $ $4 (b) Show the before-and-after effects of the dividend on the shares outstanding. Before Dividend After Dividend Outstanding shares >
Recording and Reporting Preferred Stock Cedar Corporation is authorized to issue 28,000 shares of 6%, $10 par, cumulative preferred stock. During 2020, it sold 5,600 shares of preferred stock for $25 per share. Required a. Record the entry for the issuance of preferred stock during 2020. Account Name Dr. Cr. AnswerCashEquipmentInvestment in StockDividends PayableProperty Dividends PayablePreferred StockCommon StockCommon Stock Dividends DistributablePaid-in Capital in Excess of Par—Common StockPaid-in Capital in Excess of Stated Value—Common StockPaid-in Capital in Excess of Par—Preferred StockPaid-in Capital—Retired StockPaid-in Capital—Treasury StockRetained EarningsTreasury StockLegal ExpenseUnrealized Gain or Loss—IncomeN/A Answer Answer Preferred Stock Answer Answer AnswerCashEquipmentInvestment in StockDividends PayableProperty Dividends PayablePreferred StockCommon StockCommon Stock Dividends DistributablePaid-in Capital in Excess of Par—Common…
Dividends Per Share Oceanic Company has 10,000 shares of cumulative preferred 1% stock, $150 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends: 20Y1 20Y2 20Y3 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. 20Y1 20Y2 20Y3 Preferred Stock (dividends per share) $ $30,000 7,500 45,000 $ $ 1.50 1.50 X 1.50 X Common Stock (dividends per share) $ $ $ 0.30 0 0.60 X
Selected Stock Transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (70,000 shares authorized, 35,000 shares issued) $3,500,000 Paid-In Capital in Excess of Par—Preferred Stock 420,000 Common Stock, $20 par (800,000 shares authorized, 270,000 shares issued) 5,400,000 Paid-In Capital in Excess of Par—Common Stock 700,000 Retained Earnings 21,242,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Issued 80,000 shares of common stock at $26, receiving cash. Issued 18,000 shares of preferred 2% stock at $115. Purchased 48,000 shares of treasury common for $23 per share. Sold 24,000 shares of treasury common for $26 per share. Sold 16,000 shares of treasury common for $21 per share. Declared cash dividends of $2.00 per share on preferred stock and $0.04 per share on common stock.…
Dividend Per Share Windborn Company has 15,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of $10 par common stock. The following amounts were distributed as dividends: Year 1 $56,300 Year 2 18,000 Year 3 67,500 Determine the dividend per share for preferred and common stock for each year. Round all answers to two decimal places. If an amount box does not require an entry, leave it blank. Year 1 Year 2 Year 3 Preferred stock (Dividend per share) Common stock (Dividend per share)
Issuance of Common Stock Los Altos, Inc., is authorized to issue 1,500,000 shares of $1 par value common stock. The company actually sells 625,000 shares at $20 per share. What are the amounts recorded as Common Stock- $1 par value and Paid-in Capital in Excess of Par Value related to the issuance of the 625,000 shares? Common stock 24 Paid-in Capital in Excess of Par Value $ Check O Previous A Save Answers
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Identifying and Analyzing Financial Statement Effects of Stock Transactions (FSET) Lipe Company reports the following transactions relating to its stock accounts. Feb. 20 Issued 16,800 shares of $1 par value common stock at $25 cash per share. Feb. 21 Issued 25,200 shares of $100 par value, 8% preferred stock at $250 cash per share.. Jun. 30 Purchased 3,360 shares of its own common stock at $15 cash per share. Sep. 25 Sold 1,680 shares of the treasury stock at $21 cash per share. Using the financial statement effects template, illustrate the effects of these transactions. NOTE: Use negative signs with your answers, when appropriate. NOTE: Select "N/A" as your answer if a part of the accounting equation is not affected. Transaction Issuance of common stock. Issuance of preferred stock. Purchase of treasury stock. Sale of treasury stock. Check Cash Cash Cash Cash Cash Asset 420,000 + ✓N/A 6,300,000 ✓ # ✓N/A (50,400)✓ 35,280 + ✓ ✔ N/A Noncash Assets 0 + 0✔ + 0✔ + = ✔ N/A N/A Liabilities…
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