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Stockholders' equity Paid-in capital Preferred stock, cumulative, 11,500 shares authorized, 6,900 shares issued and outstanding Common stock, no par, 748,707 shares authorized, 579,000 shares issued Total paid-in capital Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (5,700 common shares) Total stockholders' equity From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? Common stock outstanding (b) Wouldn't the stated value be net of the treasury stock? The stated value of the common stock $ shares per share $690,000 1,737,000 2,427,000 1,192,000 3,619,000 30,400 $3,588,600

Stockholders' equity Paid-in capital Preferred stock, cumulative, 11,500 shares authorized, 6,900 shares issued and outstanding Common stock, no par, 748,707 shares authorized, 579,000 shares issued Total paid-in capital Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (5,700 common shares) Total stockholders' equity From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? Common stock outstanding (b) Wouldn't the stated value be net of the treasury stock? The stated value of the common stock $ shares per share $690,000 1,737,000 2,427,000 1,192,000 3,619,000 30,400 $3,588,600

FINANCIAL ACCOUNTING
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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The stockholders' equity section of Sunland Corporation's balance sheet at December 31 is presented here. SUNLAND CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 11,500 shares authorized, 6,900 shares issued and outstanding Common stock, no par, 748,707 shares authorized, 579,000 shares issued Total paid-in capital Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (5,700 common shares) Total stockholders' equity From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? Common stock outstanding (b) Wouldn't the stated value be net of the treasury stock? The stated value of the common stock $ shares per share $690,000 1,737,000 2,427,000 1,192,000 3,619,000 30,400 $3,588,600
Transcribed Image Text:The stockholders' equity section of Sunland Corporation's balance sheet at December 31 is presented here. SUNLAND CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 11,500 shares authorized, 6,900 shares issued and outstanding Common stock, no par, 748,707 shares authorized, 579,000 shares issued Total paid-in capital Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (5,700 common shares) Total stockholders' equity From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? Common stock outstanding (b) Wouldn't the stated value be net of the treasury stock? The stated value of the common stock $ shares per share $690,000 1,737,000 2,427,000 1,192,000 3,619,000 30,400 $3,588,600
(a) how many shares of common stock are outstanding? (b) The stated Value of the common stock $ (c) the per value of the preferred stock $ (d) the dividend rate ______ % (e) if dividends of $71,100 were in arrears of preferred stock, what would be the balance reported for retained earnings? The Retained Balance $_ per share per share per share
Transcribed Image Text:(a) how many shares of common stock are outstanding? (b) The stated Value of the common stock $ (c) the per value of the preferred stock $ (d) the dividend rate ______ % (e) if dividends of $71,100 were in arrears of preferred stock, what would be the balance reported for retained earnings? The Retained Balance $_ per share per share per share
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