The year-end balance sheet of Manor, Inc., includes the following stockholders' equity section(with certain details omitted):LO4 PROBLEM 11.58Analysis of an EquityLO6 Section of a BalanceSheetStockholders' equity:10% cumulative preferred stock, $100 par value,authorized 100,000 shares.Common stock, $2 par value, authorized2,000,000 shares ..Additional paid-in capital: common stock$ 4,400,0003,400,0006,800,000Donated capital400,0003.160.000$18.160,000Retained earnings .Total stockholders' equity.InstructionsFrom this information, compute answers to the following questions:a. How many shares of preferred stock have been issued?h What is the total amount of the annual dividends paid to preferred stockholders?c. How many shares of common stock are outstanding?d. What was the average issuance price per share of common stock?e. What is the amount of legal capital?t. What is the total amount of paid-in capital?g What is the book value per share of common stock? (There are no dividends in arrears.)h. Assume that retained earnings at the beginning of the year amounted to $1,200,000 and thenet income for the year was $4.800,000. What was the dividend declared during the year oneach share of common stock? (Hint: Net income increases retained earnings, whereas divi-dends decrease retained earnings.)

Equity shareholders are considered owners of the company. Whereas the preference shareholders are…

The year-end balance sheet of Manor, Inc., includes the following stockholders' equity section (with certain details omitted): Stockholders' equity: 10% cumulative preferred stock, $100 par value, authorized 100,000 shares.. $ 400,000 ....... Common stock, $2 par value, authorized 2,000,000 shares... Additional paid-in capital: common stock Donated capital Retained earnings Total stockholders' equity 3,400,000 6,800,000 400,000 3,160,000 $18,160,000

The year-end balance sheet of Manor, Inc., includes the following stockholders' equity section (with certain details omitted): Stockholders' equity: 10% cumulative preferred stock, $100 par value, authorized 100,000 shares.. $ 400,000 ....... Common stock, $2 par value, authorized 2,000,000 shares... Additional paid-in capital: common stock Donated capital Retained earnings Total stockholders' equity 3,400,000 6,800,000 400,000 3,160,000 $18,160,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year:Preferred 2% Stock, $100 par (100,000 shares authorized, 80,000 shares issued) . . . . . . $ 8,000,000Paid-In Capital in Excess of Par—Preferred Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 440,000Common Stock, $5 par (5,000,000 shares authorized, 4,000,000 shares issued) . . . . . . . 20,000,000Paid-In Capital in Excess of Par—Common Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,280,000Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115,400,000During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:a. Issued 200,000 shares of common stock at $12, receiving cash.b. Issued 8,000 shares of preferred 2% stock at $115.c. Purchased…
Raphael Corporation’s balance sheet shows the following stockholders’ equity section. Preferred stock—5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding $ 50,000 Common stock—$___ par value, 4,000 shares authorized, issued, and outstanding . 80,000 Retained earnings 150,000 Total stockholders’ equity . $280,000 Required 1. What are the par values of the corporation’s preferred stock and its common stock? 2. If no dividends are in arrears at the current date, what is the book value per share of common stock? Round per share value to the nearest cent. 3. If two years’ preferred dividends are in arrears at the current date, what is the book value per share of common stock? Round per share value to the nearest cent. 4. If two years’ preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $11,500, what total amount will be paid to the preferred and to the common shareholders?
The stockholders' equity section of World of Camping is presented here. WORLD OF CAMPING Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity: Preferred stock, $1 par value Common stock, $1 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock, 11,000,000 common shares Total stockholders' equity $5,400,000 24,000,000 784,200,000 813,600,000 282,000,000 (286,000,000) $809,600,000 Based on the stockholders' equity section of World of Camping, answer the following questions. ■ired: w many shares of preferred stock have been issued? ber of shares
Shareholders' Equity Tinman Corporation reports the following balances at the end of the current year: Common Stock, $5 par, $50,000; Retained earnings, $110,000; Additional Paid-in Capital on Common Stock, $200,000; Income Taxes Payable, $9,800; and Accumulated Other Comprehensive Income, $26,000. Prepare the shareholders' equity section of Tinman's year-end balance sheet. Tinman Corporation Partial Balance Sheet December 31 Shareholders' Equity Contributed Capital: Total contributed capital Total Shareholders' Equity
At the start of the current year, Mundo Company’s stockholders’ equity account appeared as follows: Common stock, P15 par value; authorized 200,000 shares; issued and outstanding, 150,000 shares 2,250,000 Paid-in capital in excess of par 300,000 Retained earnings 5,000,000 Total 7,550,000 During the year, Mundo entered into the following transactions: May 1 Acquired 30,000 shares of its stock for P1,600,000. June 1 Reissued 15,000 treasury shares at P19 per share. July 1 Declared a cash dividend of P1.50 for holders on record on July 30 to be distributed on January of next year October 1 Reissued 10,000 treasury shares at P16 per share. December 1 Retired the remaining treasury shares. The total stockholders’ equity reported in the current year statement of financial position is Group of answer choices 6,395,000 6,215,000 6,192,500 6,170,000
Required information [The following information applies to the questions displayed below.] Raphael Corporation's balance sheet shows the following stockholders' equity section. Preferred stock-5% cumulative, $ par value, 1,000 shares authorized, issued, and outstanding Common stock-$ par value, 4,000 shares authorized, issued, and outstanding Retained earnings Total stockholders' equity $ 50,000 80,000 150,000 $ 280,000 2. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $11,500, compute the total amount paid to (a) preferred shareholders and (b) common shareholders.
Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, Year 1: 6.5% cumulative preferred stock, $100 par value; authorized, 18,000 shares; issued and outstanding, 9,000 shares Common stock, $4 par value; authorized, 340,000 shares; issued and outstanding, 204,000 shares Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained earnings Dividends have been declared and paid for Year 1. The average issue price per share of Grant's preferred stock was: Multiple Choice O $52.50. $100.00. $105.00. $ 900,000 $ 816,000 $ 45,000 $ 1,500,000 $ 920,000
Gordon Corporation reported the following equity section on its current balance sheet. The common stock is currently selling for OMR 11.50 per share. Common stock, OMR 5 par, 100,000 shares authorized, 40,000 shares issued OMR 200,000 Paid in capital in excess of par—common 120,000 Retained earnings 290,000 Total stockholders' equity OMR 610,000 If the company declared and issued 10% stock dividend? What will the number of issued shares Select one: a. 20,000 shares b. 44,000 shares c. 40,000 shares d. 4,000 shares
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
If my company has in my capital(equity accounts common stock($1 par, 100,000 shares outstanding) $ 100,000 additional paid in capital 200,00 retained earnings 225,000 the board of director has declared a 20 percent stock dividend on january 1 and a 0.25 cash dividend on marz 1. what changes occur in the capital account after each transation if the price of the stock is $4
The following is the abstract of the shareholders' equity of Shake Corporation before declaration of cash dividends 12% Preference Share Capital, par P80, 30,000 shares all issued and outstanding P3,000,000 Ordinary Share Capital, par P40, 20,000 shares all issued and outstanding P1,000,000 Retained Earnings 5,500,000 The Board declared dividends of P1,200,000. No dividends were distributed last year. Required: Determine how much dividends the preference and ordinary shares will receive given the following independent situations: d. The Preference share is cumulative and fully participating