Question:How many preference shares were issued and outstanding?How many ordinary shares were issued and outstanding? Stockholder's EquityShare CapitalPaid-In Capital8% Preference Shares - $200 par, 10,000 sahres authorized,Jissued andOrdinary Shares - $50 par, 30,000 shares authorized andissued andoutstanding1,600,000Joutstanding1,250,000Subscribed preference shares, 1,000 shares200,0001,470,000Additional Paid-In CapitalShare Premium, 8% Preference Shares240,000Share Premium, Ordinary Shares345,000Total Paid-In Capital3,415,000Less: Treasury Stock - 8% Preferred Shares, 1,000 shares, at cost242,000Total Share CapitalRetained Earnings880,000Total Stockholder's Equity4,075,000

Shareholder's Equity:-It is the capital invested by the investors in the company. It is the balance…

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Question: How many preference shares were issued and outstanding? How many ordinary shares were issued and outstanding?

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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Question

Question:

How many preference shares were issued and outstanding?
How many ordinary shares were issued and outstanding?

Stockholder's Equity
Share Capital
Paid-In Capital
8% Preference Shares - $200 par, 10,000 sahres authorized,
Jissued and
Ordinary Shares - $50 par, 30,000 shares authorized and
issued and
outstanding
1,600,000
Joutstanding
1,250,000
Subscribed preference shares, 1,000 shares
200,000
1,470,000
Additional Paid-In Capital
Share Premium, 8% Preference Shares
240,000
Share Premium, Ordinary Shares
345,000
Total Paid-In Capital
3,415,000
Less: Treasury Stock - 8% Preferred Shares, 1,000 shares, at cost
242,000
Total Share Capital
Retained Earnings
880,000
Total Stockholder's Equity
4,075,000

Definition Definition Type of stock which is granted priority over dividend distributions as compared to common stockholders. Preferred stocks also do not carry any voting rights. Notably, in a case where a company is going to be liquidated, preferred stockholders have a priority claim on the value of assets of the company as quoted in the balance sheet, as compared to the common stockholders.

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