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

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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Ayayai Corp. has these accounts at December 31: Common Stock, $10 par, 4,500 shares issued, $45,000; Paid-in Capital in Excess of Par $20,250; Retained Earnings $43,000; and Treasury Stock, 400 shares, $8,800. Prepare the stockholders' equity section of the balance sheet. (Enter account name only and do not provide descriptive information.) Ayayai Corp. Balance Sheet (Partial) SA
The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows. Stockholders' Equity Paid-in capital Preferred stock, ? par value, 6% cumulative, 110,000 shares authorized, 41,000 shares issued and outstanding Common stock, $20 stated value, 160,000 shares authorized, 41,000 shares issued and ?? shares outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated value-Common Total paid-in capital Retained earnings Treasury stock, 3,000 shares Total stockholders' equity Note: The market value per share of the common stock is $42, and the market value per share of the preferred stock is $13. Required a. What is the par value per share of the preferred stock? b. What is the dividend per share on the preferred stock? c. What is the number of common stock shares outstanding? d. What was the average issue price per share (price for which the stock was issued) of the common stock? f. If Mann Equipment Company…
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The equity sections for Atticus Group at the beginning of the year (January 1) Stockholders' Equity (January 1) Common stock-$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 Declared a $0.40 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 July 5 Declared a $0.40 per share cash dividend, date of record April 10. Declared a $0.40 per share cash dividend, date of record July 10. July 31 August 14 Declared a 20% stock dividend when…
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The year end balance sheet of CP, In., include the following stockholders’ equity section (with certain details omitted). Stockholders’ equity: Capital stock: 7% cumulative preferred stock, $100 par value……………. $15,000,000 Common stock, $5 par value, 5,000,000 shares Authorized, 4,000,000 shares issued and outstanding…… 20,000,000 Additional paid in capital: Common stock……………………………………………………………… 44,000,000 Retained earnings………………………………………………………… 64,450,000 Total stockholders’ equity…………………………………………… $143,450,000 From this information, I must compute the answers to the following question. 1. What is the amount of legal capital and the amount of total paid-in capital? 2. What is the book value per share of common stock, assuming no dividends in arrears? 3. Is it possible to determine the fair market value per share of common stock from the stock-holders' equity section? Explain
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Analysis of stockholders' equity accounts (L.O. 3, 4, 5) The following selected information relates to the Hastings Corporation at year end: Preferred stock, ?% cumulative, $7.50 par, 100,000 shares authorized, ? shares issued and outstanding $ 600,000 Paid-in capital in excess of par: preferred Common stock, $? stated value, 700,000 shares authorized, 500,000 shares issued and outstanding Paid-in capital in excess of stated value: common Loans payable Retained earnings Total stockholders' equity Total legal capital ? 2,500,000 7,500,000 150,000 ? 12,072,000 ? The preferred stock was issued at an average price per share of $7.90. There were no dividends in arrears on January 1 or December 31. Distributions of $95,000 were made throughout the year, with common stockholders receiving $29,000. Instructions Determine the six unknowns of the Hastings Corporation.