Presented below is a partial stockholders\' equity section of Ruple Corporation\

Question

Presented below is a partial stockholders' equity section of Ruple Corporation's balance sheet on December 31, 2014: Stockholders' Equity Paid-In Capital     Capital Stock      Common Stock, $5 par value, 300,000 shares       authorized; _____ shares issued and _____ outstanding…………. $1,200,000      Additional Paid-In Capital In excess of par value………………………………………………..           120,000 Retained Earnings……………………………………………………….. 500,000 Less: Treasury stock, 10,000 shares………………………………..        (120,000) Total Stockholders' Equity…………...…………………………………...... $1,700,000 Instructions Complete the following statements and show your computations. a. The number of shares of common stock issued is __________. b. The number of shares of common stock outstanding is __________. c. The total paid in capital is $__________. d. The cost per share of the treasury stock was $__________. e. Total number of shares authorized is______________. Presented below is a partial stockholders' equity section of Ruple Corporation's balance sheet on December 31, 2014: Stockholders' Equity Paid-In Capital     Capital Stock      Common Stock, $5 par value, 300,000 shares       authorized; _____ shares issued and _____ outstanding…………. $1,200,000      Additional Paid-In Capital In excess of par value………………………………………………..           120,000 Retained Earnings……………………………………………………….. 500,000 Less: Treasury stock, 10,000 shares………………………………..        (120,000) Total Stockholders' Equity…………...…………………………………...... $1,700,000 Instructions Complete the following statements and show your computations. a. The number of shares of common stock issued is __________. b. The number of shares of common stock outstanding is __________. c. The total paid in capital is $__________. d. The cost per share of the treasury stock was $__________. e. Total number of shares authorized is______________.

Explanation / Answer

1. the no of shares common stock issued=$1,200,000/$5=240,000 shares

2.The number of shares of common stock outstanding is =240,000 shares

3. The total paid in capital is =$1,200,000+$120,000=$1,320,000

4. The cost per share of the treasury stock was $=$120,000/10,000=$12

5. Total number of shares authorized =300,000

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