Sheridan Corporation's December 31, 2020 balance sheet showed the following:8% preferred stock, $20 par value, 56500 sharesauthorized; 36500 shares issuedCommon stock, $10 par value, 4220000 shares authorized;4120000 shares issued, 4080000 shares outstandingPaid-in capital in excess of par-preferred stockPaid-in capital in excess of par-common stockRetained earningsTreasury stock (56500 shares)Sheridan's total paid-in capital was$54121300.O $97331300.O $94771300.$96051300.$ 7300004120000012130054000000153800001280000

The paid in capital is the excess amount received from the issuance of shares. The paid in capital…

Answered: uthorized; 36500 shares issued Common…

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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Wildhorse Corporation's December 31, 2025 balance sheet reported the following: 6% preferred stock, $20 par value, cumulative, 32100 shares authorized; 21400 shares issued Common stock, $10 par value, 3120000 shares authorized; 2028000 shares issued, 1996800 shares outstanding Paid-in capital in excess of par - preferred stock Paid-in capital in excess of par - common stock Retained earnings Treasury stock (31200 shares) Wildhorse's total paid-in capital was O $50547400. O $49892200. O $49237000. O $29184200. $428000 20280000 64200 29120000 10430000 655200
Selected stock transactionsThe following selected accounts appear in the ledger of Upscale Construction, Inc. at the beginning of the current year:Preferred 2% stock, $80 par (200,000 shares authorized, 65,000 shares issued)$5,200,000Paid in Capital in Excess of Par-Preferred Stock360,000Common Stock, $12 par (3,000,000 shares authorized, 1,400,000 shares issued)16,800,000Paid in Capital in Excess of Par-Common Stock 1,290,000Retained Earnings110,900,000During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:a. Issued 220,000 shares of common stock at $15, receiving cash.b. Issued 6,000 shares of preferred 2% stock at $94.c. Purchased 130,000 shares of treasury common for $19 per share.d. Sold 70,000 shares of treasury common for $23 per share.e. Sold 40,000 shares of treasury common for $17 per share.f. Declared cash dividends of $1.60 per share on preferred stock and $0.14 per share on common stock.g. Paid…
Subject: acounting
Preferred shares, $4.55 non-cumulative, 52,000 shares authorized and issued* $ 3,328,000 Common shares, 87,000 shares authorized and issued* 1,392,000 Required:Part A1. Calculate the total dividends paid in each year to the preferred and to the common shareholders.
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If Alpha Company issued 1,000 shares of $10 par common stock and 1,000 shares of $100 par preferred stock for a lump sum of $120,000 when the market value of the common stock was $20 per share and the market value of the preferred stock was $101 per share, the entry to record the transaction would be A) Cash $120,.000 Preferred Stock $100,0000 Paid-in Capital in excess of par – Preferred 1,000 Common Stock 10,000 Paid-in Capital in excess of par – Common 9,000 B) Cash $120,.000 Preferred Stock…
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) b. Paid-In Capital in Excess of Par-Preferred Stock g. Common Stock. $5 par (5,000,000 shares authorized, 4,000,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings Issued 220,000 shares of common stock at $14, receiving cash. $ 8,000,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Paid the cash dividends. 440,000 INSTRUCTIONS 20,000,000 Issued 12,000 shares of preferred 2% stock at $110. c. Purchased 160,000 shares of treasury common for $10 per share. d. Sold 105,000 shares of treasury common for $16 per share. Sold 40,000 shares of treasury common for $8 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.08 per share on common stock.…
Question Pharoah Inc. issued 12900 shares of no-par common stock with a stated value of $5 per share. The market price of the stock on the date of issuance was $15 per share. The entry to record this transaction includes a O credit to Common Stock for $64500. O debit to Paid-in Capital in Excess of Par for $193500. O debit to Cash for $64500. O credit to Common Stock for $193500. eTextbook and Media Ⓒ⠀
Use attachment to answer the following The book value per share of common stock is: a) $12.20. b) $15.25. c) $12.40. d) $15.50.
MAKE T-ACCOUNT for the following: Ordinary shares Preference shares Share premium- Ordinary shares Share premium- Preference shares Share premium- Treasury shares Total additional paid-in capital Total contributed capital Total stockholders’ equity
Instructions 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) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $5 par (5,000,000 shares authorized, 4,000,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings $8,000,000 440,000 20,000,000 2,280,000 115,400,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 220,000 shares of common stock at $14, receiving cash. b. Issued 12,000 shares of preferred 2% stock at $110. c. Purchased 160,000 shares of treasury common for $10 per share. d. Sold 105,000 shares of treasury common for $16 per share. e. Sold 40,000 shares of treasury common for $8 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.08 per share on common stock. g.…
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