Loudoun Corporation's balance sheet reflected the following information.Common stock, $2 parPaid-in capital in excess of par - CommonRequired:Assuming all the stock was issued in a single transaction, what was the issue price per share of the stock?Note: Round your answer to 2 decimal places.Issue price$153,000212,000per share

Lets understand the basics. When share is issued for more than its par value then share is known to…

Answered: Loudoun Corporation's balance sheet…

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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Assume that all balance sheet amounts for Sheridan Company represent average balance figures. Stockholders' equity - common Total stockholders' equity Sales revenue Net income Number of shares of common stock Common stock dividends Preferred stock dividends $ 371000 O $2.00 $1.40 $1.94 $2.10 811000 418000 81000 38000 32000 5000 What is the earnings per share for Sheridan? Assume that all balance sheet amounts for Sheridan Company represent average balance figures. What is the earnings per share for Sheridan? $\ $ 200 $ $\$ 1.40 $ $\$ 1.94 $ $\$ 2.10 $
The balance sheet caption for common stock is the following: Common stock, $2 par value, 2,070,000 shares authorized, 1,310, 000 shares issued, 1,050,000 shares outstanding $? Required: a. Calculate the dollar amount that will be presented opposite this caption. b. Calculate the total amount of a cash dividend of $0.27 per share. c. What accounts for the difference between issued shares and outstanding shares? a. Amount b. Cash dividend c. Difference between issued shares and outstanding shares
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 >
Prepare the journal entry to record Jevonte Company's issuance of 41,000 shares of its common stock assuming the shares have a: a. $3 par value and sell for $19 cash per share. b. $3 stated value and sell for $19 cash per share. View transaction list Journal entry worksheet < 1 Record the issuance of 41,000 shares of common stock assuming the shares have a $3 par value and sell for $19 cash per share. 2 Note: Enter debits before credits. Transaction a. General Journal Debit Credit
Presented below is information related to a company at the beginning of the year: Common Stock, $10 par $6,700 Retained Earnings 4,700 During the year, 10 shares were reacquired at $11 per share. How much is the total stockholders' equity after the treasury stock transaction, assuming the company accounts for treasury stock under the cost method?
Using the following accounts and balances, prepare the Stockholders’ Equity section of the balance sheet using Method 1 ofExhibit 8. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. One hundred thousand shares of common stock are authorized, and 5,000 shares have been reacquired. Common Stock, $2 par$ 150,000Paid-In Capital from Sale of Treasury Stock60,000Paid-In Capital in Excess of Par—Common Stock2,250,000Retained Earnings10,880,000Treasury Stock140,000.
Prepare the journal entry to record Rony Company's issuance of 35,000 shares of its common stock assuming the share have a : a. $4par value and sell for $16 cash per share b. S4 stated value and sell for $16 per share.
Need assistance in preparing the entry for the issuance os stocks under the following assumptions Exercise 13-04 a-e Concord Corporation issued 4,250 shares of stock.Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,650.) (a) The stock had a par value of $7 per share and was issued for a total of $51,000. (b) The stock had a stated value of $7 per share and was issued for a total of $51,000. (c) The stock had no par or stated value and was issued for a total of $51,000. (d) The stock had a par value of $7 per share and was issued to attorneys for services during incorporation valued at $51,000. (e) The stock had a par value of $7 per share and was issued for land worth $51,000.
Prepare the journal entry to record Zende Company's issuance of 75,000 shares of $5 par value common stock assuming the shares sell for: a. $5 cash per share. b. $6 cash per share. View transaction list Journal entry worksheet 1 > Record the issuance of 75,000 shares of $5 par value common stock assuming the shares sell for $5 cash per share. Note: Enter debits before credits. 3/ F6 F7 F8 F9 F10
Skysong Inc. presented the following data. Net income Preferred stock:52,000shares outstanding, $100 par, 8% cumulative, not convertible Common stock: Shares outstanding 1/1 Issued for cash, 5/1 Acquired treasury stock for cash, 8/1 2-for-1 stock split, 10/1 Compute earnings per share.(Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $ $2,470,000 5,200,000 736,800 315,600 134,400
The stockholders' equity section of Rakusin Corp. reflected the following in the capital stock subsection (all stock was issued on the same date): Common stock, par $10 $60,000 Additional paid-in-capital 15,000 What was the per-share selling price of the stock? $ _________
Suppose a company purchases 2,000 shares of its own $1 par value common stock for $16 per share. Which of the following is recorded at the time of the purchase? a. Debit Treasury Stock for $32,000. b. Debit Common Stock for $30,000. c. Debit Common Stock for $32,000. d. Debit Treasury Stock for $2,000.

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