Solve for Unknowns The Stockholders\' Equity category of Princeville Inc. balanc

Question

Solve for Unknowns

The Stockholders' Equity category of Princeville Inc. balance sheet appears below.

Required:

1. Determine the missing values indicated by question marks.

2. What was the cost per share of the treasury stock? Round your answer to the nearest cent.
$ per share

Common stock, $10 par, 13,400 shares issued, 9,200 outstanding $ ? Additional paid-in capital ? Total contributed capital $360,000 Retained earnings 132,000 Treasury stock, ? shares at cost 11,500     Total stockholders' equity $ ?

Explanation / Answer

Requirement 1: Common Stock total Par value: Issued Shares 13400 Par Value per share 10 Common Stock total par value (13400*10) 134000 Additional Paid in capital: Total Contributed Capital 360000 Common Stock total par value 134000 Additional Paid in capital (360000-134000) 226000 Total Stockholders' Equity: Common Stock total par value 134000 Additional Paid in capital 226000 Total Contributed Capital 360000 Retained Earnings 132000 Treasury Stock -11500 Total Stockholders' Equity 840500 Number of shares of treasury stock: Issued Common Stock shares 13400 Outstanding Common Stock Shares 9200 Number of shares of treasury stock (13400-9200) 4200 Requirement 2: Cost per share of treasuty stock: Treasury Stock 11500 Number of shares of treasury stock 4200 Cost per share of treasuty stock (11500/4200) 3

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