The stockholders' equity section of Monty Corp.'s balance sheet at December 31 is presented here. Monty Corp. Balance Sheet(Partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 14,000 shares authorized, 9,800 shares issued and outstanding Common stock, no par, 880,000 shares authorized, 560,000 shares issued Total paid-in capital Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (12,000 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? (b) Assuming there is a stated value, what is the stated value of the common stock? $ (c) $ What is the par value of the preferred stock? $1,176,000 2,800,000 3,976,000 1,858,000 5,834,000 62,400 $5,771,600 100 shares per sha per sha
The stockholders' equity section of Monty Corp.'s balance sheet at December 31 is presented here. Monty Corp. Balance Sheet(Partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 14,000 shares authorized, 9,800 shares issued and outstanding Common stock, no par, 880,000 shares authorized, 560,000 shares issued Total paid-in capital Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (12,000 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? (b) Assuming there is a stated value, what is the stated value of the common stock? $ (c) $ What is the par value of the preferred stock? $1,176,000 2,800,000 3,976,000 1,858,000 5,834,000 62,400 $5,771,600 100 shares per sha per sha
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![The stockholders' equity section of Monty Corp.'s balance sheet at December 31 is presented here.
Monty Corp.
Balance Sheet(Partial)
Stockholders' equity
Paid-in capital
Preferred stock, cumulative, 14,000 shares authorized, 9,800 shares issued and outstanding
Common stock, no par, 880,000 shares authorized, 560,000 shares issued
Total paid-in capital
Retained earnings
Total paid-in capital and retained earnings
Less: Treasury stock (12,000 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?
(b)
Assuming there is a stated value, what is the stated value of the common stock?
$
(c)
What is the par value of the preferred stock?
$
(d)
If the annual dividend on preferred stock is $105,840, what is the dividend rate
on preferred stock?
(e)
If dividends of $211.680 were in arrears on preferred stock, what would be the
balance reported for retained earnings?
eTextbook and Media
Solution
Save for Later
$1,176,000
2,800,000
3,976,000
1,858,000
5,834,000
62,400
$5,771,600
$
Attempts: unlimited
shares
per share
per share
%
Submit Answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F585970c1-8db0-450f-987b-10f4de58f48c%2Fa0320896-e256-41df-97b5-f3991fea8414%2Fkrd2ww_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The stockholders' equity section of Monty Corp.'s balance sheet at December 31 is presented here.
Monty Corp.
Balance Sheet(Partial)
Stockholders' equity
Paid-in capital
Preferred stock, cumulative, 14,000 shares authorized, 9,800 shares issued and outstanding
Common stock, no par, 880,000 shares authorized, 560,000 shares issued
Total paid-in capital
Retained earnings
Total paid-in capital and retained earnings
Less: Treasury stock (12,000 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?
(b)
Assuming there is a stated value, what is the stated value of the common stock?
$
(c)
What is the par value of the preferred stock?
$
(d)
If the annual dividend on preferred stock is $105,840, what is the dividend rate
on preferred stock?
(e)
If dividends of $211.680 were in arrears on preferred stock, what would be the
balance reported for retained earnings?
eTextbook and Media
Solution
Save for Later
$1,176,000
2,800,000
3,976,000
1,858,000
5,834,000
62,400
$5,771,600
$
Attempts: unlimited
shares
per share
per share
%
Submit Answer
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