SmartBook x New tab Enro Add A Class ezto.mheducation.com/hm.tpx Bookmarks O ESC

Question

SmartBook x New tab Enro Add A Class ezto.mheducation.com/hm.tpx Bookmarks O ESC1111 Quiz 10F value 0.37 points E11-7 Finding Amounts Missing from the Stockholders Equity Section [LO 11-2, LO 11-4] The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-in Capital, Preferred Common Stock (no-par authorized 20,000 shares, issued and $118,000 18,290 outstanding 6,700 shares) Retained Earnings Treasury Stock, 1,000 Preferred shares at cost 716,900 37,000 9,850 Assume that no shares of treasury stock have been sold in the past Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.) 1. The number of shares of preferred stock issued was 2. The number of shares of preferred stock outstanding was 3. The average issue price of the preferred stock was 4. The average issue price of the common stock was 5. T per share he treasury stock transaction increased (decreased) stockholders' equity by 6. The treasury stock cost per share 7.Total stockholders equity is

Explanation / Answer

1) 118000/20 + 1000 = 5900+1000 = 6900

2) 118000/20 = 5900

3) (118000+18290)/5900 = 23.10

4) 716900/6700 = 107

5) 9850

6) 9850/1000 = 8850

7) 118000 + 18290 + 716900 + 37000 - 9850 = 880340

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

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