The stockholders\' equity section of the balance sheet of Caesar Corporation at

Question

The stockholders' equity section of the balance sheet of Caesar Corporation at December 31, 2018 appears as follows: (The company engaged in no treasury stock transactions prior to 2018.) Stockholders' Equity $2 preferred stock, $100 par, 10,000 shares authorized, 8,000 shares issued $800,000 $ 800,000 Common stock, $2 par, 100,000 shares authorized, 75,000 shares issued, 5,000 are held in the treasury 150,000 150,000 Additional Paid-in Capital: From issuance of preferred stock 80,000 From issuance of common stock 225,000 From treasury stock transactions 8,000 From common stock dividends 26,000 Total paid-in capital 1,289,000 Retained earnings ($40,000 equal to cost of treasury stock is not available for dividends) 500,000 1,789,000 Less treasury stock (at cost: 5,000 common shares) (40,000 ) Total Stockholders' equity $ 1,749,000 What was the average issue price per share of preferred stock? Select one: a. $100 b. $110 c. $115 d. $5

Explanation / Answer

Average issue price per share of Preferred Stock preferred stock 800,000 paid in capital 80,000 total 880,000 Number of shares issue 8,000 Average issue price per share of Preferred Stock 110 Answer option B $110

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.