Smith Corporation's December 31, 2017 balance sheet showed the following: 6% preferred stock, $20 par value, cumulative, 40,000 shares authorized; 25,000 shares issued Common stock, $10 par value, 4,000,000 shares authorized: 2,600,000 shares issued, 2,560,000 shares outstanding Paid-in capital in excess of par value - preferred stock Paid-in capital in excess of par value common stock Retained eamings Treasury stock (40,000 shares) $ 500,000 26,000,000 80,000 37,000,000 12,200,000 $40,000 a) Calculate the total Paid in Capital b) Calculate the total Stockholders Equity c) Calculate the treasury stock per share
Smith Corporation's December 31, 2017 balance sheet showed the following: 6% preferred stock, $20 par value, cumulative, 40,000 shares authorized; 25,000 shares issued Common stock, $10 par value, 4,000,000 shares authorized: 2,600,000 shares issued, 2,560,000 shares outstanding Paid-in capital in excess of par value - preferred stock Paid-in capital in excess of par value common stock Retained eamings Treasury stock (40,000 shares) $ 500,000 26,000,000 80,000 37,000,000 12,200,000 $40,000 a) Calculate the total Paid in Capital b) Calculate the total Stockholders Equity c) Calculate the treasury stock per share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
- Total paid in capital:
stockholders equity treasury stock per sharepreferred stock dividend- if the company paid 35,000 dividend on Dec 31st, how much will preferred and common stockholders receive?
![Smith Corporation's December 31, 2017 balance sheet showed the following:
6% preferred stock, $20 par value, cumulative,
40,000 shares authorized; 25,000 shares issued
Common stock, $10 par value, 4,000,000 shares authorized:
2,600,000 shares issued, 2,560,000 shares outstanding
Paid-in capital in excess of par value - preferred stock
Paid-in capital in excess of par value common stock
Retained eamings
Treasury stock (40,000 shares)
$ 500,000
26,000,000
80,000
37,000,000
12,200,000
$40,000
a) Calculate the total Paid in Capital
b) Calculate the total Stockholders Equity
c) Calculate the treasury stock per share](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F54d2e198-bc66-47c9-817f-3561527d5271%2F44f38248-9686-41f8-a8d3-d61a029beb48%2F1kthsu.jpeg&w=3840&q=75)
Transcribed Image Text:Smith Corporation's December 31, 2017 balance sheet showed the following:
6% preferred stock, $20 par value, cumulative,
40,000 shares authorized; 25,000 shares issued
Common stock, $10 par value, 4,000,000 shares authorized:
2,600,000 shares issued, 2,560,000 shares outstanding
Paid-in capital in excess of par value - preferred stock
Paid-in capital in excess of par value common stock
Retained eamings
Treasury stock (40,000 shares)
$ 500,000
26,000,000
80,000
37,000,000
12,200,000
$40,000
a) Calculate the total Paid in Capital
b) Calculate the total Stockholders Equity
c) Calculate the treasury stock per share
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education