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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
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
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 11P: Raun Company had the following equity items as of December 31, 2019: Preferred stock, 9% cumulative,...
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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: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.
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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