Contributed capital Preferred stock (par $20; authorized 10,000 shares. ? issued

Question

Contributed capital
Preferred stock (par $20; authorized 10,000 shares. ? issued, of which
500 shares are held as treasury stock) $100,000
Common stock (no-par; authorized 20,000 shares, issued
and outstanding 8,000 shares) 600,000
Contributed capital (includeds $1,500 from treasury
stock transactions) 16,500
Retained earnings 34,000
Cost of treasury stock, preferred (9,000)

Required:
1. The number of shares of preferred stock issue was?
2.The number of shares of preferred stock outstanding was?
3. The avg sale price of the preferred stock when issued was ? per share
4.Have the treasury stock transactions (a) increased corporate resources or (b) decreased resources? By how much?
5. The treasury stock transactions increased (decreased) stockholders equity by?
6. How much did the treasury stock held cost per share?
7. Total stockholders equity is?
8. The avearage issue price of the common stock was?

**I know this is a lot, but I have no ideas how to find out these answers. An explaination of how each number is found would be a great help! I am so lost.

Explanation / Answer

1. The number of shares of preferred stock issue was?
    $100,000 / $20 = 5,000 preferred stock issued

2.The number of shares of preferred stock outstanding was?
    Preferred Stock Issued Less Preferred Treasury Stock
     5,000 - 500 = 4,500 Preferred shares outstanding

3. The avg sale price of the preferred stock when issued was ? per share
    = (Preferred issued value + additional paid-in capital for preferred) / issued preferred shares
     = [$100,000 + ($16,500 - $1,500)]
      = $115,000 / 5,000 = $23 Per Share

4.Have the treasury stock transactions (a) increased corporate resources or (b) decreased resources? By how much?
      decreased corporate resources by ($7,500) i.e. (-$9,000 + $1,500)
5. The treasury stock transactions increased (decreased) stockholders equity by?
      decreased ($9,000)

6. How much did the treasury stock held cost per share?
      ($9,000 + $1,500) / 500 = $21.00

7. Total stockholders equity is?
= $100,000 + $600,000 + $16,500 + $34,000 - $9,000
= $741,000

8. The avearage issue price of the common stock was?
    $600,000 / 8,000 = $75 per share

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