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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. $410,000 820,000 31,000 82,000 Required a. What is the par value per share of the preferred stock? b. What is the dividend per share on the preferred stock? What is the number of common stock shares outstanding? $1,343,000 260,000 (21,000) $1,582,000 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.

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. $410,000 820,000 31,000 82,000 Required a. What is the par value per share of the preferred stock? b. What is the dividend per share on the preferred stock? What is the number of common stock shares outstanding? $1,343,000 260,000 (21,000) $1,582,000 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.

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 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 declared a 2-for-1 stock split on the common stock, how many shares would be outstanding after the split? What amount would be transferred from the Retained Earnings account because of the stock split? Theoretically, what would be the market price of the common stock immediately after the stock split? Req A to D Complete this question by entering your answers in the tabs below. C. Req F a. Par value b Dividend $410,000 820,000 31,000 82,000 a. What is the par value per share of the preferred stock? b. What is the dividend per share on the preferred stock? (Round your answer to 2 decimal places.) Common stock d. Average issue price 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? (Round your answer to nearest whole dollar.) per share per share shares per share $1,343,000. 260,000 (21,000) $1,582,000 Req F > Show less A
Transcribed Image Text: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 declared a 2-for-1 stock split on the common stock, how many shares would be outstanding after the split? What amount would be transferred from the Retained Earnings account because of the stock split? Theoretically, what would be the market price of the common stock immediately after the stock split? Req A to D Complete this question by entering your answers in the tabs below. C. Req F a. Par value b Dividend $410,000 820,000 31,000 82,000 a. What is the par value per share of the preferred stock? b. What is the dividend per share on the preferred stock? (Round your answer to 2 decimal places.) Common stock d. Average issue price 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? (Round your answer to nearest whole dollar.) per share per share shares per share $1,343,000. 260,000 (21,000) $1,582,000 Req F > Show less A
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. Req A to D 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 declared a 2-for-1 stock split on the common stock, how many shares would be outstanding after the split? What amount would be transferred from the Retained Earnings account because of the stock split? Theoretically, what would be the market price of the common stock immediately after the stock split? Complete this question by entering your answers in the tabs below. Req F Shares outstanding after the split Amount transferred from retained earnings. Market price of common stock after split $410,000 Answer If Mann Equipment Company declared a 2-for-1 stock split on the common stock, how many shares would be outstanding after the split? What amount would be transferred from the Retained Earnings account because of the stock split? Theoretically, what would be the market price of the common stock immediately after the stock split? < Req A to D 820,000 31,000 82,000 shares $1,343,000 260,000 (21,000) $1,582,000 per share
Transcribed Image Text: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. Req A to D 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 declared a 2-for-1 stock split on the common stock, how many shares would be outstanding after the split? What amount would be transferred from the Retained Earnings account because of the stock split? Theoretically, what would be the market price of the common stock immediately after the stock split? Complete this question by entering your answers in the tabs below. Req F Shares outstanding after the split Amount transferred from retained earnings. Market price of common stock after split $410,000 Answer If Mann Equipment Company declared a 2-for-1 stock split on the common stock, how many shares would be outstanding after the split? What amount would be transferred from the Retained Earnings account because of the stock split? Theoretically, what would be the market price of the common stock immediately after the stock split? < Req A to D 820,000 31,000 82,000 shares $1,343,000 260,000 (21,000) $1,582,000 per share
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