The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,400 shares) Retained Earnings i Treasury Stock, 1,000 Preferred shares at cost Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.) Answer is not complete. 1. The number of shares of preferred stock issued was 2 The number of shares of preferred stock outstanding was 3. The average issue price of the preferred stock was 4 The average issue price of the common stock was 5 The treasury stock transaction increased (decreased) stockholders' equity by 6. The treasury stock cost 7. Total stockholders' equity is $ 112,000 16,520 665,600 34,000 (9,700) 5,100 per share per share
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,400 shares) Retained Earnings i Treasury Stock, 1,000 Preferred shares at cost Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.) Answer is not complete. 1. The number of shares of preferred stock issued was 2 The number of shares of preferred stock outstanding was 3. The average issue price of the preferred stock was 4 The average issue price of the common stock was 5 The treasury stock transaction increased (decreased) stockholders' equity by 6. The treasury stock cost 7. Total stockholders' equity is $ 112,000 16,520 665,600 34,000 (9,700) 5,100 per share per share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts:
Contributed Capital
Preferred Stock (par $20; authorized 10,000 shares, 7 issued, of which 1,000 shares
are held as treasury stock)
Additional Paid-In Capital, Preferred
Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,400 shares)
Retained Earnings
Treasury Stock, 1,000 Preferred shares at cost
Assume that no shares of treasury stock have been sold in the past.
Required:
Complete the following statements (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.)
Answer is not complete.
1. The number of shares of preferred stock issued was
2 The number of shares of preferred stock outstanding was
3. The average issue price of the preferred stock was
4. The average issue price of the common stock was
5. The treasury stock transaction increased (decreased) stockholders' equity by
6. The treasury stock cost
7. Total stockholders' equity is
5,100
$ 112,000
16,520
665,600
34,000
(9,700)
per
share
per
share
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