Capital Stock Preferred Stock PHAROAH COMPANY Stockholders' Equity December 31,2020 Common Stock Total Capital Stock Additional Paid-in Capital Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings V Less Treasury Stock Total Stockholders' Equity $ 58500d Pharoah Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1.900 shares issued) Common stock, $5 par (108,500 shares authorized, 21,700 shares issued) Additional paid-in capital Retained earnings Total $190,000 108,500 116,000 424,000 $838,500 During 2020, Pharoah took part in the following transactions concerning stockholders' equity 1 Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2 Purchased 1,600 shares of its own outstanding common stock for $39 per share. Pharoah uses the cost method. 3. Reissued 800 treasury shares for land valued at $31.600. 4. Issued 460 shares of preferred stock at $103 per share. 5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $42 per share. 6. Issued the stock dividend. 7. Declared the annual 2020 $9 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021.
Capital Stock Preferred Stock PHAROAH COMPANY Stockholders' Equity December 31,2020 Common Stock Total Capital Stock Additional Paid-in Capital Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings V Less Treasury Stock Total Stockholders' Equity $ 58500d Pharoah Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1.900 shares issued) Common stock, $5 par (108,500 shares authorized, 21,700 shares issued) Additional paid-in capital Retained earnings Total $190,000 108,500 116,000 424,000 $838,500 During 2020, Pharoah took part in the following transactions concerning stockholders' equity 1 Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2 Purchased 1,600 shares of its own outstanding common stock for $39 per share. Pharoah uses the cost method. 3. Reissued 800 treasury shares for land valued at $31.600. 4. Issued 460 shares of preferred stock at $103 per share. 5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $42 per share. 6. Issued the stock dividend. 7. Declared the annual 2020 $9 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 16P: Treasury Stock, Cost Method Bush-Caine Company reported the following data on its December 31, 2018,...
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Transcribed Image Text:Capital Stock
Preferred Stock
PHAROAH COMPANY
Stockholders' Equity
December 31,2020
Common Stock
Total Capital Stock
Additional Paid-in Capital
Total Paid-in Capital
Retained Earnings
Total Paid-in Capital and Retained Earnings V
Less Treasury Stock
Total Stockholders' Equity
$
58500d
Transcribed Image Text:Pharoah Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet.
Preferred stock, 9%, $100 par (10,000 shares authorized, 1.900 shares issued)
Common stock, $5 par (108,500 shares authorized, 21,700 shares issued)
Additional paid-in capital
Retained earnings
Total
$190,000
108,500
116,000
424,000
$838,500
During 2020, Pharoah took part in the following transactions concerning stockholders' equity
1
Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These
dividends had been declared on December 31, 2019.
2
Purchased 1,600 shares of its own outstanding common stock for $39 per share. Pharoah uses the cost method.
3.
Reissued 800 treasury shares for land valued at $31.600.
4.
Issued 460 shares of preferred stock at $103 per share.
5.
Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $42 per share.
6.
Issued the stock dividend.
7.
Declared the annual 2020 $9 per share dividend on preferred stock and the $2 per share dividend on common stock. These
dividends are payable in 2021.
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