For a recent 2-year period, the balance sheet of Carla Company showed the following stockholders’ equity data at December 31 (in millions). 2020 2019 Additional paid-in capital $ 970 $ 827 Common stock 560 555 Retained earnings 7,250 5,280 Treasury stock 1,620 868 Total stockholders’ equity $7,160 $5,794 Common stock shares issued 224 222 Common stock shares authorized 500 500 Treasury stock shares 36 28 (a) Answer the following questions.(1) What is the par value of the common stock? (Round par value to 2 decimal places, e.g. $3.15.) Par value of common stock $enter the par value of the common stock rounded to 2 decimal places (2) What is the cost per share of treasury stock at December 31, 2020, and at December 31, 2019? December 31, 2020 December 31, 2019 Cost per share of Treasury stock $enter a dollar amount $enter a dollar amount (b) Prepare the stockholders’ equity section at December 31, 2020.
For a recent 2-year period, the balance sheet of Carla Company showed the following stockholders’ equity data at December 31 (in millions). 2020 2019 Additional paid-in capital $ 970 $ 827 Common stock 560 555 Retained earnings 7,250 5,280 Treasury stock 1,620 868 Total stockholders’ equity $7,160 $5,794 Common stock shares issued 224 222 Common stock shares authorized 500 500 Treasury stock shares 36 28 (a) Answer the following questions.(1) What is the par value of the common stock? (Round par value to 2 decimal places, e.g. $3.15.) Par value of common stock $enter the par value of the common stock rounded to 2 decimal places (2) What is the cost per share of treasury stock at December 31, 2020, and at December 31, 2019? December 31, 2020 December 31, 2019 Cost per share of Treasury stock $enter a dollar amount $enter a dollar amount (b) Prepare the stockholders’ equity section at December 31, 2020.
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 84PSA: Statement of Stockholders' Equity At the end of 2019, Stanley Utilities Inc. had the following...
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Question
For a recent 2-year period, the balance sheet of Carla Company showed the following stockholders’ equity data at December 31 (in millions).
|
2020
|
2019
|
|||
|---|---|---|---|---|
|
Additional paid-in capital
|
$ 970 | $ 827 | ||
|
Common stock
|
560 | 555 | ||
|
|
7,250 | 5,280 | ||
|
|
1,620 | 868 | ||
|
Total stockholders’ equity
|
$7,160 | $5,794 | ||
|
Common stock shares issued
|
224 | 222 | ||
|
Common stock shares authorized
|
500 | 500 | ||
|
Treasury stock shares
|
36 | 28 |
(a) Answer the following questions.
(1) What is the par value of the common stock? (Round par value to 2 decimal places, e.g. $3.15.)
| Par value of common stock | $enter the par value of the common stock rounded to 2 decimal places |
(2) What is the cost per share of treasury stock at December 31, 2020, and at December 31, 2019?
|
December 31, 2020
|
December 31, 2019
|
|||
|---|---|---|---|---|
|
Cost per share of Treasury stock
|
$enter a dollar amount | $enter a dollar amount |
(b) Prepare the stockholders’ equity section at December 31, 2020.
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