The stockholders’ equity section of the balance sheet for Gator Company at Decem
ID: 2470677 • Letter: T
Question
The stockholders’ equity section of the balance sheet for Gator Company at December 31, 2014, is as follows:
What is the par value per share of the preferred stock?
What is the dividend per share on the preferred stock? (Round your answer to 2 decimal places.)
The stockholders’ equity section of the balance sheet for Gator Company at December 31, 2014, is as follows:
Stockholders’ Equity Paid-in capital Preferred stock, ? par value, 4% cumulative, 270,000 shares authorized, 57,000 shares issuedand outstanding $ 570,000 Common stock, $25 stated value, 320,000 shares
authorized, 57,000 shares issued and ? outstanding 1,425,000 Paid-in capital in excess of par—Preferred 47,000 Paid-in capital in excess of stated value—Common 114,000 Total paid-in capital 2,156,000 Retained earnings 420,000 Treasury stock, 6,000 shares (42,000 ) Total stockholders’ equity $ 2,534,000
What is the par value per share of the preferred stock?
What is the dividend per share on the preferred stock? (Round your answer to 2 decimal places.)
Explanation / Answer
Statement showing computations Particulars Amount Total Paid in capital 2,156,000.00 Less : Preferred stock, ? par value, 4% cumulative,270,000 shares authorized, 57,000 shares issued and outstanding (570,000.00) Less : Common stock, $25 stated value, 320,000 shares authorized, 57,000 shares issued and ? Outstanding (1,425,000.00) Less : Paid-in capital in excess of par—Preferred (47,000.00) Less : Paid-in capital in excess of stated value—Common (114,000.00) - Par Value per share of preferred stock = 570,000/57,000 10.00 Dividend per share of preferred stock =10*4% 0.40
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