ionShown below is information relating to the stockholders' equity of Ozone Corporation at June 30, 2023.$400,0006% cumulative preferred stock, $100 par, 50,000 sharesauthorizedCommon stock, $4.55 par, 40,000 shares authorized; 30,800sharesissued and outstandingAdditional paid-in capital: preferred stockAdditional paid-in capital: common stockRetained earningsWhat is total paid-in capital?Select one:O a. $2,160,000.O b. $540,000.O c. $2,040,000.O d. $660,000.$140,000$100,000$1,400,000$120,000

Lets understand the basics.Total paid in capital is a total of paid up common stock and paid up…

Answered: Shown below is information relating to…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows. Stockholders’ Equity Paid-in capital Preferred stock, ? par value, 6% cumulative, 100,000 shares authorized, 10,000 shares issued and outstanding $ 200,000 Common stock, $10 stated value, 200,000 shares authorized, 100,000 shares issued and ?? shares outstanding 1,000,000 Paid-in capital in excess of par—Preferred 25,000 Paid-in capital in excess of stated value—Common 500,000 Total paid-in capital $ 1,725,000 Retained earnings 420,000 Treasury stock, 1,000 shares (13,000 ) Total stockholders’ equity $ 2,132,000 Note: The market value per share of the common stock is $42, and the market value per share of the preferred stock is $26. Required What is the par value per share of the preferred stock? What is the dividend per…
Stockholders’ Equity: Transactions and Balance Sheet Presentation The stockholders’ equity of Summit Corporation at January 1 follows: 7 Percent preferred stock, $100 par value, 20,000 shares authorized; 5,000 shares issued and outstanding $500,000 Common stock, $15 par value, 100,000 shares authorized; 40,000 shares issued and outstanding 600,000 Paid-in capital in excess of par value-Preferred stock 24,000 Paid-in capital in excess of par value-Common stock 360,000 Retained earnings 325,000 Total Stockholders' Equity $1,809,000 The following transactions, among others, occurred during the year: Jan. 12 Announced a 3-for-1 common stock split, reducing the par value of the common stock to $5 per share. The authorization was increased to 300,000 shares. Mar. 31 Converted $41,000 face value of convertible bonds payable (the book value of the bonds was $43,000) to common stock. Each $1,000 bond converted to 125 shares of common stock. June 1 Acquired…
Instructions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (100,000 shares authorized, 80,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $5 par (5,000,000 shares authorized, 4,000,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings $8,000,000 440,000 20,000,000 2,280,000 115,400,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 220,000 shares of common stock at $14, receiving cash. b. Issued 12,000 shares of preferred 2% stock at $110. c. Purchased 160,000 shares of treasury common for $10 per share. d. Sold 105,000 shares of treasury common for $16 per share. e. Sold 40,000 shares of treasury common for $8 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.08 per share on common stock. g.…
Raphael Corporation’s balance sheet shows the following stockholders’ equity section. Preferred stock—5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding $ 70,000 Common stock—$___ par value, 4,000 shares authorized, issued, and outstanding 180,000 Retained earnings 330,000 Total stockholders' equity $ 580,000 Required: 1. Determine the par values of the corporation’s preferred stock and its common stock.
The stockholders’ equity section of Creighton Company’s balance sheet is shown as follows: CREIGHTON COMPANY As of December 31, Year 3 Stockholders’ equity Preferred stock, $10 stated value, 7% cumulative,300 shares authorized, 50 issued and outstanding $ 500 Common stock, $10 par value, 250 shares authorized,100 issued and outstanding 1,000 Common stock, class B, $20 par value, 400 sharesauthorized, 150 issued and outstanding 3,000 Common stock, no par, 150 shares authorized,100 issued and outstanding 2,200 Paid-in capital in excess of stated value—preferred 600 Paid-in capital in excess of par value—common 1,200 Paid-in capital in excess of par value—class B common 750 Retained earnings 7,000 Total stockholders’ equity $ 16,250 Requireda. Assuming the preferred stock was originally issued for cash, determine the amount of cash collected when the stock was issued.b. Based on the class B common stock alone,…
Determine common stock dividend per share: Stockholder equity: 7 1/2% cumulative preferred stock, $100 par value 100,000 share authorized $2, 600,000 Common stock $2 par value, 900,000 shares authorized 900,000 Additional paid in caital: common stock 8,700,000 Retained earnings 2,595,000 Total stockholders equity 14,795,000 Assume that retained earnings at the beginning of the year amounted to $717, 500 and the net income for the year was $3,970,000. What was the dividend declared during the year on each of the common stock? Number of issued shares of preferred stock 26000 Annual preferred stock dividend 195,000 Number of oustanding shares of common stock 450000 Average issuance price of…
Raphael Corporation’s balance sheet shows the following stockholders’ equity section. Preferred stock—5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding $ 50,000 Common stock—$___ par value, 4,000 shares authorized, issued, and outstanding 100,000 Retained earnings 350,000 Total stockholders' equity $ 500,000 2. If two years’ preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $15,500, compute the total amount paid to (a) preferred shareholders and (b) common shareholders.
Stockholders' Equity: Transactions and StatementThe stockholders' equity section of Night Corporation's balance sheet at January 1 follows: Common stock, $6 par value, 300,000 shares authorized, 60,000 shares 360,000 issued, 6,000 shares in treasury Additional paid-in capital In excess of par value 600,000 From treasury stock 37,500 637,500 Retained earnings 435,000 1,432,500 Less: Treasury stock (6,000 shares) at cost 172,500 Total Stockholdersâ€™ Equity 1,260,000 The following transactions affecting stockholdersâ€™ equity occurred during the year: Jan. 8 Issued 15,000 shares of previously unissued common stock for $26 cash per share. Mar. 12 Sold all of the treasury shares for $35 cash per share. June 30 Declared a five percent stock dividend on all outstanding shares of common stock. The market value of the stock was $31 per share. July 10 Issued the stock dividend declared on June 30. Oct. 7 Acquired 2,500 shares of common…
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 >
The stockholders' equity section of Ivanhoe Corporation at December 31 is as follows: Paid-in capital Preferred stock, cumulative, 17,500 shares authorized, 13,500 shares issued and outstanding Common stock, $3 par, 760,000 shares authorized, 515,000 shares issued Paid-in capital in excess of par - common Total paid-in capital Retained earnings IVANHOE CORPORATION Balance Sheet (partial) Total paid-in capital and retained earnings Less: Treasury stock (19,500 common shares) Total stockholders' equity (a) From a review of the stockholders' equity section, as chief accountant, answer the following questions. How many shares of common stock are outstanding? Common stock outstanding $1,350,000 1,545,000 206,000 3,101,000 1,873,000 4,974,000 107,250 $4,866,750 shares
Question: The following information is from the balance sheet of Tudor Corporation as of December 31, 2014. Preferred stock, $100 par $500,000 Paid-in capital in excess of par - preferred 35,000 Common stock, $1 par 190,000 Paid-in capital in excess of par - common 380,000 Retained earnings 131,500 Total stockholders' equity $1,236,500 What was the average issue price of the common stock shares? A. $1.00 B. $3.00 C. $13.15 D. $1.90
Reporting Stockholders' Equity Using the following accounts and balances, prepare the Stockholders' Equity se Common Stock, $70 par $5,600,000 Paid-In Capital from Sale of Treasury Stock 112,000 Paid-In Capital in Excess of Par-Common Stock 2,160,000 Retained Earnings 2,800,000 Treasury Stock 67,000 Stockholders' Equity Paid-in capital: Total Paid-In Capital Total Stockholders' Equity

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS