LEYLAND CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding Common stock, no par, 750,000 shares authorized, 580,000 shares issued $ 600,000 2,900,000 Total paid-in capital Retained earnings 3,500,000 1,158,000 Total paid-in capital and retained earnings Less: Treasury stock (6,000 common'shares) 4,658,000 32,000 Total stockholders' equity $4,626,000 Instructions From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? (b) Assuming there is a stated value, what is the stated value of the common stock? (c) What is the par value of the preferred stock? (d) If the annual dividend on preferred stock is $36,000, what is the dividend rate on pre- ferred stock?
LEYLAND CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding Common stock, no par, 750,000 shares authorized, 580,000 shares issued $ 600,000 2,900,000 Total paid-in capital Retained earnings 3,500,000 1,158,000 Total paid-in capital and retained earnings Less: Treasury stock (6,000 common'shares) 4,658,000 32,000 Total stockholders' equity $4,626,000 Instructions From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? (b) Assuming there is a stated value, what is the stated value of the common stock? (c) What is the par value of the preferred stock? (d) If the annual dividend on preferred stock is $36,000, what is the dividend rate on pre- ferred stock?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![about
y section.
E11-4 The stockholders' equity section of Leyland Corporation's balance sheet at Decem-
ber 31 is presented here.
LEYLAND CORPORATION
Balance Sheet (partial)
Stockholders' equity
Paid-in capital
Preferred stock, cumulative, 10,000 shares authorized,
6,000 shares issued and outstanding
Common stock, no par, 750,000 shares authorized,
580,000 shares issued
$ 600,000
2,900,000
Total paid-in capital
Retained earnings
3,500,000
1,158,000
Total paid-in capital and retained earnings
Less: Treasury stock (6,000 common'shares)
4,658,000
32,000
Total stockholders' equity
$4,626,000
Instructions
From a review of the stockholders' equity section, answer the following questions..
(a) How many shares of common stock are outstanding?
(b) Assuming there is a stated value, what is the stated value of the common stock?
(c) What is the par value of the preferred stock?
(d) If the annual dividend on preferred stock is $36,000, what is the dividend rate on pre-
ferred stock?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9b26ead1-e5ad-4ce6-97cb-7e8b49c86ca7%2Fb907376d-973d-4a00-b0b2-39d3dfed0804%2Fitmtoi8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:about
y section.
E11-4 The stockholders' equity section of Leyland Corporation's balance sheet at Decem-
ber 31 is presented here.
LEYLAND CORPORATION
Balance Sheet (partial)
Stockholders' equity
Paid-in capital
Preferred stock, cumulative, 10,000 shares authorized,
6,000 shares issued and outstanding
Common stock, no par, 750,000 shares authorized,
580,000 shares issued
$ 600,000
2,900,000
Total paid-in capital
Retained earnings
3,500,000
1,158,000
Total paid-in capital and retained earnings
Less: Treasury stock (6,000 common'shares)
4,658,000
32,000
Total stockholders' equity
$4,626,000
Instructions
From a review of the stockholders' equity section, answer the following questions..
(a) How many shares of common stock are outstanding?
(b) Assuming there is a stated value, what is the stated value of the common stock?
(c) What is the par value of the preferred stock?
(d) If the annual dividend on preferred stock is $36,000, what is the dividend rate on pre-
ferred stock?
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