25 NEED HELP ASAP Vega Corporation’s December 31 balance sheet showed the follow

Question

25 NEED HELP ASAP

Vega Corporation’s December 31 balance sheet showed the following:

8% preferred stock, $20 par value, cumulative, 10,000 shares authorized, 8,500 shares issued

$ 170,000

Common stock, $10 par value, 1,000,000 shares authorized, 950,000 shares issued, 940,000 shares outstanding

9,500,000

Paid in capital in excess of par--preferred stock

34,000

Paid in capital in excess of par--common stock

13,500,000

Retained earnings

3,750,000

Treasury stock (15,000 shares)

315,000

Vega’s total stockholders’ equity was

$26,669,000.

$46,690,000.

$26,639,000.

$27,269,000.

8% preferred stock, $20 par value, cumulative, 10,000 shares authorized, 8,500 shares issued

$ 170,000

Common stock, $10 par value, 1,000,000 shares authorized, 950,000 shares issued, 940,000 shares outstanding

9,500,000

Paid in capital in excess of par--preferred stock

34,000

Paid in capital in excess of par--common stock

13,500,000

Retained earnings

3,750,000

Treasury stock (15,000 shares)

315,000

Explanation / Answer

$26,639,000 Statement showing computations Particulars Amount 8% preferred stock, $20 par value, cumulative, 10,000 shares authorized, 8,500 shares issued                 170,000.00 Common stock, $10 par value, 1,000,000 shares authorized, 950,000 shares issued, 940,000 shares outstanding             9,500,000.00 Paid in capital in excess of par--preferred stock                   34,000.00 Paid in capital in excess of par--common stock           13,500,000.00 Retained earnings             3,750,000.00 Treasury Stock               (315,000.00) Stockholders Equity           26,639,000.00

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