·10 noncumulative preferred stock and 1 090 700 shares of no par common sto k Th

Question

·10 noncumulative preferred stock and 1 090 700 shares of no par common sto k The corpora on ass nedS2.60 stated va ue to the comm onstock. At December 3 019 the windsor, nc. has been authorized to is-ue 20 000 shares of $100 par val the following balances pertaining to stackholders equity. Preferred Stock Paid-in Capitel in Excess of Par-Preferred Stock Common Stack Paid-in Capital in Excess of Stated Value-Common Stock ,761,900 Treasury Stock (367 common shares) Paid-in Capital from Treasury Stock Retained Earnings Accumulated Other Comprehensive Income da r contained $120,000 24,000 1,090,700 80,000 66,000 The preferred stock wes issued for land having a fair value of $144,000. All common stock issued was for cash. In November, SSo shares af common stock were purchased for the treasury at a per share cost of $11. In December, 183 shares of treasury stock were sold for $14 per share. No divdends were declared in 2019

Explanation / Answer

Sockholders equity capital stock 20000 shares at $100 par value ,10% non cummulative preferred stock 1090700 shares no par value common stock Preferred stock issued 240000 common stock 1090700 Total capital stock 1330700 Additional paid in capital paid in capital in excess of par-preferred stock 24000 paid in capital in excess of stated value-common stock 1761900 paid in capital from treasury stock 549 Additional paid in capital 1786449 Total paid in capital 3117149 Retained earnings 80000 Total paid in capital and retained earning 3197149 accumulated other comprehensive income 66000 less:treasury stock -4037 Total stockholders equity 3,259,112

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