Stockholders' equity Paid-in capital Preferred stock, cumulative, 11,700 shares authorized, 7,000 shares issued and outstanding Common stock, no par, 729,000 shares authorized, 559,000 shares issued Total paid-in capital Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (7,900 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 Stated value of the common stock $ (b) Assuming there is a stated value, what is the stated value of the common stock? Bramble Corporation Balance Sheet (partial) (c) What is the par value of the preferred stock? Par value of the preferred stock $ Dividend rate eTextbook and Media 551100 shares (d) If the annual dividend on preferred stock is $63,000, what is the dividend rate on preferred stock? 11.25 % Balance reported for retained earnings $ Save for Later 5 per share 8750 per share $700,000 2,795,000 3,495,000 1,197,000 4,692,000 (e) If dividends of $126,000 were in arrears on preferred stock, what would be the balance reported for retained earnings? 42,100 $4,649,900 Attempts: 1 of 3 used Submit Answer
Stockholders' equity Paid-in capital Preferred stock, cumulative, 11,700 shares authorized, 7,000 shares issued and outstanding Common stock, no par, 729,000 shares authorized, 559,000 shares issued Total paid-in capital Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (7,900 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 Stated value of the common stock $ (b) Assuming there is a stated value, what is the stated value of the common stock? Bramble Corporation Balance Sheet (partial) (c) What is the par value of the preferred stock? Par value of the preferred stock $ Dividend rate eTextbook and Media 551100 shares (d) If the annual dividend on preferred stock is $63,000, what is the dividend rate on preferred stock? 11.25 % Balance reported for retained earnings $ Save for Later 5 per share 8750 per share $700,000 2,795,000 3,495,000 1,197,000 4,692,000 (e) If dividends of $126,000 were in arrears on preferred stock, what would be the balance reported for retained earnings? 42,100 $4,649,900 Attempts: 1 of 3 used Submit Answer
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Stockholders' equity
Paid-in capital
Preferred stock, cumulative, 11,700 shares authorized, 7,000 shares issued and outstanding
Common stock, no par, 729,000 shares authorized, 559,000 shares issued
Total paid-in capital
Retained earnings
Total paid-in capital and retained earnings
Less: Treasury stock (7,900 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
Stated value of the common stock $
(b) Assuming there is a stated value, what is the stated value of the common stock?
Bramble Corporation
Balance Sheet (partial)
(c) What is the par value of the preferred stock?
Par value of the preferred stock $
Dividend rate
eTextbook and Media
551100 shares
11.25 %
Balance reported for retained earnings $
Save for Later
8750
(d) If the annual dividend on preferred stock is $63,000, what is the dividend rate on preferred stock?
5
per share
per share
$700,000
2,795,000
3,495,000
1,197,000
4,692,000
(e) If dividends of $126,000 were in arrears on preferred stock, what would be the balance reported for retained
earnings?
42,100
$4,649,900
Attempts: 1 of 3 used Submit Answer
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