CHAPTER 11NAMEShown below is information relating to the stockholders' equity of Revere Corporation at December 31,2017.8% cumulative preferred stock, $100 par,50,000 shares authorized, 15,000 shares issuedCommon stock, $5 par, 1,500,000 shares authorized,1,300,000 shares issued and outstanding.Additional paid-in capital: preferred stockAdditional paid-in capital: common stockRetained earnings.....Each account needs a $ sign.$1,500,0006,500,000250,0003,750,0003,260,000 Refer to the above data. Revere's total legal capital at December 31, 2017, is:a $12,000,000.$15,260,000.$11,260,000.$ 8,000,000.Refer to the above data. The book value per share of common stock, assuming current-year preferreddividends have been paid, is:a $9.23.$10.39.$8.66.$6.15.Refer to the above data. The balance in Retained Earnings at the beginning of the year was $2,710,000, andthere were no dividends in arrears. Net income for 2017 was $2,250,000. What was the amount ofdividend declared on each share of common stock during 2017?$1.30.a$2.40.$1.21.$3.72.

Book value per share is the amount of shareholder's equity which belongs to the per share of the…

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

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Divac Company has developed a statement of stockholders' equity for the year 2017 as follows: Preferred Stock Paid-InCapital—Preferred Common Stock Paid-InCapital—Common Retained Earnings Balance, Jan. 1 $100,000 $50,000 $400,000 $40,000 $200,000 Stock issued 100,000 10,000 Net income 87,000 Cash dividend -45,000 Stock dividend 10,000 5,000 -15,000 Balance, Dec. 31 $110,000 $55,000 $500,000 $50,000 $227,000 Divac’s preferred stock is $100 par, 8% stock. If the stock is liquidated or redeemed, stockholders are entitled to $120 per share. There are no dividends in arrears on the stock. The common stock has a par value of $5 per share. Assume that the common stockholders have a right to the total net income of $87,000. Determine the book value per share of Divac’s common stock. Round the book value per share to two decimals.$fill in the blank_____ per share
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
The shareholders’ equity of Proactive Solutions, Inc., included the following at December 31, 2016: Common stock, $1 par Paid-in capital—excess of par on common stock 7% cumulative convertible preferred stock, $100 par value Paid-in capital—excess of par on preferred stock Retained earnings Additional Information: • Proactive had 7 million shares of preferred stock authorized of which 2 million were outstanding. All 2 million shares outstanding were issued in 2010 for $112 a share. The preferred stock is convertible into common stock on a two-for-one basis until December 31, 2018, after which the preferred stock no longer is convertible. None of the preferred stock has been converted into common stock at December 31, 2016. There were no dividends in arrears. • Of the 13 million common shares authorized, there were 8 million shares outstanding at January 1, 2016. Proactive also sold 3 million shares at the beginning of September 2016 at a price of $52 a share. • The company has an…
The stockholders’ equity accounts of Flint Corporation on January 1, 2017, were as follows. Preferred Stock (8%, $100 par noncumulative, 4,950 shares authorized) $297,000 Common Stock ($4 stated value, 321,000 shares authorized) 1,070,000 Paid-in Capital in Excess of Par Value—Preferred Stock 14,850 Paid-in Capital in Excess of Stated Value—Common Stock 513,600 Retained Earnings 686,500 Treasury Stock (4,950 common shares) 39,600 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1 Issued 4,950 shares of common stock for $29,700. Mar. 20 Purchased 1,400 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 8% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a $0.60 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Dec. 31…
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On December 31, 2013 and 2014, Tomlin Corporation had 100,000 shares of common stock. Additional information: Stockholders' equity at 12/31/2014 .................... $4,500,000 Net income year ended 12/31/2014 ...................... 1,200,000 Market price per share of common stock at 12/31/2014 .. 144 The price-earnings ratio on common stock at December 31, 2014, was a. 10 to 1. b. 12 to 1. c. 14 to 1. d. 16 to 1. how do i calculate this?
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