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

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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