Question: How many preference shares were issued and outstanding? How many ordinary shares were issued and outstanding?

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...
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  1. How many preference shares were issued and outstanding?
  2. How many ordinary shares were issued and outstanding?
Stockholder's Equity
Share Capital
Paid-In Capital
8% Preference Shares - $200 par, 10,000 sahres authorized,
Jissued and
Ordinary Shares - $50 par, 30,000 shares authorized and
issued and
outstanding
1,600,000
Joutstanding
1,250,000
Subscribed preference shares, 1,000 shares
200,000
1,470,000
Additional Paid-In Capital
Share Premium, 8% Preference Shares
240,000
Share Premium, Ordinary Shares
345,000
Total Paid-In Capital
3,415,000
Less: Treasury Stock - 8% Preferred Shares, 1,000 shares, at cost
242,000
Total Share Capital
Retained Earnings
880,000
Total Stockholder's Equity
4,075,000
Transcribed Image Text:Stockholder's Equity Share Capital Paid-In Capital 8% Preference Shares - $200 par, 10,000 sahres authorized, Jissued and Ordinary Shares - $50 par, 30,000 shares authorized and issued and outstanding 1,600,000 Joutstanding 1,250,000 Subscribed preference shares, 1,000 shares 200,000 1,470,000 Additional Paid-In Capital Share Premium, 8% Preference Shares 240,000 Share Premium, Ordinary Shares 345,000 Total Paid-In Capital 3,415,000 Less: Treasury Stock - 8% Preferred Shares, 1,000 shares, at cost 242,000 Total Share Capital Retained Earnings 880,000 Total Stockholder's Equity 4,075,000
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