The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows. Note: The market value per share of the common stock is $38, and the market value per share of the preferred stock is $18. Required What is the par value per share of the preferred stock? What is the dividend per share on the preferred stock? What is the number of common stock shares outstanding? What was the average issue price per share (price for which the stock was issued) of the common stock? 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? Stockholders’ Equity Paid-in capital Preferred stock, ? par value, 5% cumulative, 160,000 shares authorized, 46,000 shares issued and outstanding $ 460,000 Common stock, $20 stated value, 210,000 shares authorized, 46,000 shares issued and ?? shares outstanding 920,000 Paid-in capital in excess of par—Preferred 36,000 Paid-in capital in excess of stated value—Common 161,000 Total paid-in capital $ 1,577,000 Retained earnings 310,000 Treasury stock, 6,000 shares (30,000 ) Total stockholders’ equity $ 1,857,000 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.) 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.) a. Par value per share b. Dividend per share c. Common stock shares d. Average issue price per share 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? Answer Shares outstanding after the split shares Amount transferred from retained earnings Market price of common stock after split per share

The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows. Note: The market value per share of the common stock is $38, and the market value per share of the preferred stock is $18. Required What is the par value per share of the preferred stock? What is the dividend per share on the preferred stock? What is the number of common stock shares outstanding? What was the average issue price per share (price for which the stock was issued) of the common stock? 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? Stockholders’ Equity Paid-in capital Preferred stock, ? par value, 5% cumulative, 160,000 shares authorized, 46,000 shares issued and outstanding $ 460,000 Common stock, $20 stated value, 210,000 shares authorized, 46,000 shares issued and ?? shares outstanding 920,000 Paid-in capital in excess of par—Preferred 36,000 Paid-in capital in excess of stated value—Common 161,000 Total paid-in capital $ 1,577,000 Retained earnings 310,000 Treasury stock, 6,000 shares (30,000 ) Total stockholders’ equity $ 1,857,000 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.) 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.) a. Par value per share b. Dividend per share c. Common stock shares d. Average issue price per share 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? Answer Shares outstanding after the split shares Amount transferred from retained earnings Market price of common stock after split per share

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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Question

The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows.

Note: The market value per share of the common stock is $38, and the market value per share of the preferred stock is $18.

Required

What is the par value per share of the preferred stock?

What is the dividend per share on the preferred stock?

What is the number of common stock shares outstanding?

What was the average issue price per share (price for which the stock was issued) of the common stock?

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?


Stockholders’ Equity
Paid-in capital
Preferred stock, ? par value, 5% cumulative,
160,000 shares authorized, 46,000 shares issued and outstanding	$	460,000
Common stock, $20 stated value, 210,000 shares authorized, 46,000 shares issued and ?? shares outstanding		920,000
Paid-in capital in excess of par—Preferred		36,000
Paid-in capital in excess of stated value—Common		161,000
Total paid-in capital			$	1,577,000
Retained earnings				310,000
Treasury stock, 6,000 shares				(30,000	)
Total stockholders’ equity			$	1,857,000

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.)
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.)


a.	Par value	per share
b.	Dividend	per share
c.	Common stock	shares
d.	Average issue price	per share

	Answer
Shares outstanding after the split		shares
Amount transferred from retained earnings
Market price of common stock after split		per share

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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