1. What is the total shareholders' equity? 2. For how much per share was the treasury stock purchased? 3. What is the amount of the required preference dividends?

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 67E: Cash Dividends on Common and Preferred Stock Lemon Inc. has the following information regarding its...
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1. What is the total shareholders' equity?

2. For how much per share was the treasury stock purchased?

3. What is the amount of the required preference dividends?

Problem #19
The shareholders' equity section of Nazario Freight Express, Inc. as at Dec. 31, 2018
appeared as follows:
6% Preference Shares, P75 par, 200,000 shares authorized,
70,000 shares issued
Ordinary Shares, P5 stated value, 500,000 shares authorized,
P
share issued and
shares outstanding
500,000
600,000
Share Premium-Ordinary
Retained Earnings
Total Share Capital and Retained Earnings
Less: Treasury Stock - Ordinary, 10,000 shares, at Cost
Total Shareholders' Equity
1,000,000
40,000
Transcribed Image Text:Problem #19 The shareholders' equity section of Nazario Freight Express, Inc. as at Dec. 31, 2018 appeared as follows: 6% Preference Shares, P75 par, 200,000 shares authorized, 70,000 shares issued Ordinary Shares, P5 stated value, 500,000 shares authorized, P share issued and shares outstanding 500,000 600,000 Share Premium-Ordinary Retained Earnings Total Share Capital and Retained Earnings Less: Treasury Stock - Ordinary, 10,000 shares, at Cost Total Shareholders' Equity 1,000,000 40,000
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