The stockholders' equity section of the balance sheet for NormalOutfitters' atDecember 31, 2022 follows:Common stock, $3 par, 30,000 shares authorized $84,000Additional paid-in capital176,400Treasury stock, 1,400 shares at cost 39,620Retained earningsTotal stockholders' equity105,000What is the cost of the treasury stock per share?What is the value of total stockholders' equity?$?How manyshares of common stock are issued?How many shares of common stock are outstanding?How many shares of common stock will receive dividends if dividendsare declared?What was the average price received when the common stock wasinitially issued?

the common stock shares represent the ownership of the company. company capital structure included…

Answered: The stockholders' equity section of the…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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ABC Company had 100,000 ordinary shares issued and outstanding at January 1, 2020. During the current year, ABC also had the ordinary share transactions listed below: April 1 Issued 30,000 previously unissued shares May 1 Split the share 2 for 1 June 30 Purchased 10,000 shares for the treasury July 30 Distributed a 20% stock dividend Dec 30 Split the share 3 for 1 What is the weighted average number of shares that should be used for earning per share purposes? (round answer to a whole number)
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1. Yellow Corporation had the following stockholders' equity accounts on December 31, 2020. Common Stock ($8 par value, 120,000 shares authorized, $ 320,000 40,000 shares issued and outstanding) Paid-in-Capital in Excess of Par - Common Stock $ 2,900,000 Retained Earnings $ 3,500,000 The following were transactions that occurred during 2021: 20-Feb Declared a $4 cash dividends per share on common stock 3-Mar Record date for cash dividends declared on 20 Feb 19-Mar Paid cash dividends 28-Apr Issued 15,000 shares of common stock for $16 per share 5-May Declared a $3 cash dividends per share on common stock 9-Jun Record date for cash dividends declared on 5 May 17-Jul Paid cash dividends 8-Aug Issued 23,500 shares of common stock for $20 per share 7-Sep Declared a $2 cash dividends per share on common stock 9-Oct Record date for cash dividends declared on 7 September 5-Nov Paid cash dividends 31-Dec Determined that net income for the year was $650,000 Instructions: 1. Journalize the…
Below is United Delivery Service’s (UDS) stockholders' equity for the year ended 2022: Common Stock, $3 par value $60,000 Paid-in Capital in Excess of Par—Common 35,000 Retained Earnings 100,000 Treasury Stock (10,000) In March, UDS declares and distributes a 12% stock dividend when the market value of the stock is $6. 1) Prepare UDS's March end stockholders' equity section. 2) How would retained earnings change if UDS doubled their number of shares through a 2 for 1 stock split?
On January 1, 2021, Fascom had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 250,000 shares issued Paid-in capital-excess of par, common Paid-in capital-excess of par, preferred Preferred stock, $100 par, 10,000 shares outstanding Retained earnings Treasury stock, at cost, 5,000 shares During 2021, Fascom Inc. had several transactions relating to common stock. $ 250,000 500,000 100,000 1,000,000 2,000,000 25,000 January 15: Declared a property dividend of 100,000 shares of Slowdown Company (book value $10 per share, fair value $9 per share). February 17: Distributed the property dividend. April July December 10: A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Fascom chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date. 18: Declared and distributed a 3% stock dividend on outstanding common stock. The fair value is $5 per…
The shareholder's equity section of Chen Industries Limited at November 30, 2022 is shown below: Shareholders' Equity $1.50 cumulative preferred shares, 1,000 shares issued $ 50,000 Common shares, 10,000 shares issued Retained earnings $306,000 During 2023 the company completed the following transactions: 196,000 February 10 Declared a regular cash dividend on the preferred shares. March 10 Paid the cash dividend Declared a 10% stock dividend on April 14 the common shares. Market price per May 14 July 6 share REQUIRED: 60,000 1. November 20 Received equipment valued at $30,000 and issued 3,750 common shares. common share was $7/ share Distributed the stock dividend Issued 2,000 common shares for $5/ Journalize Chen's transactions. Explanations are not required. 2. Prepare the shareholder's equity section of Chen Industries Limited balance sheet at
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following transactions affect stockholders' equity during 2021, National League's first year of operations: February 2 Issue 1.5 million shares of common stock for $15 per share. February 4 Issue 400, 000 shares of preferred stock for $24 per share. June 15 Purchase 150,000 shares of its own common stock for $10 per share. August 15 Resell 112,500 shares of treasury stock for $25 per share. November 1 Declare a cash dividend on its common stock of $1.50 per share and a $400,000 (5% of par value) cash 2 dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: Dividends are not paid on treasury stock.) November 30 Pay the dividends declared on November 1. 2. Prepare the stockholders' equity section of the balance sheet as of December 31, 2021. Net income for the year was $4,700,000. (Amounts to be deducted should be indicated by a minus sign.) NATIONAL LEAGUE GEAR ces Balance Sheet (Stockholders' Equity Section) December 31, 2021 Stockholders' equity:…
The following information is available for Barone Corporation: January 1, 2022 Shares outstanding 1,250,000April 1, 2022 Shares issued 200,000July 1, 2022 Treasury shares purchased 75,000October 1, 2022 Shares issued in a 100% stock dividend 1,375,000 The number of shares to be used in computing earnings per ordinary share for 2022 is
Please help me understand part B
The stockholders' equity section of the January 1, 2031 balance sheet for XYZ Company is given below: Common stock, $14 par value ................. $525,000 Paid-in capital – common stock .............. $150,000 Treasury stock (14,000 shares @ $16 cost) ... $224,000 Paid-in capital – treasury stock ............ $ 13,000 Retained earnings ........................... $107,000 XYZ Company entered into the following transactions during 2031: a. Re-issued 2,000 of the treasury shares for $11 per share. b. Re-issued 3,000 of the treasury shares for $13 per share. c. Issued 5,000 shares of previously un-issued common stock for $21 per share. d. Re-issued 6,000 of the treasury shares for $19 per share. Calculate the balance in the retained earnings account after all four transactions above are recorded.

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