Stockholders equity: 6% preferred stock, $100 par value, .............................................$20,000,000 500,000 shares authorized. Common stock, $10 par value,.......................................................$16,000,000 3,000,000 shares authorized Additional paid-in capital: Preferred stock............................................... $400,000 Common stock................................................$25,600,000 $ 26,000,000 Retained earnings.............................................................................$4,500,000 Total stockholders’ equity...............................................................$66,500,000 g)What is the total paid-in capital? h)What is the book value per share of common stock?(Assume no dividends in arrears) i)What is the book value per share of common stockassuming that dividends are one year in arrears?

Stockholders equity: 6% preferred stock, $100 par value, .............................................$20,000,000 500,000 shares authorized. Common stock, $10 par value,.......................................................$16,000,000 3,000,000 shares authorized Additional paid-in capital: Preferred stock............................................... $400,000 Common stock................................................$25,600,000 $ 26,000,000 Retained earnings.............................................................................$4,500,000 Total stockholders’ equity...............................................................$66,500,000 g)What is the total paid-in capital? h)What is the book value per share of common stock?(Assume no dividends in arrears) i)What is the book value per share of common stockassuming that dividends are one year in arrears?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 10MC: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the...

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A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the transaction would include which of the following? A. debit of $4,000 to common stock B. credit of $20,000 to common stock C. credit of $40 to common stock D. debit of $20,000 to common stock
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ANSWER ( D TO I ) 1. Stockholders equity: 6% preferred stock, $100 par value, .............................................$20,000,000 500,000 shares authorized. Common stock, $10 par value,.......................................................$16,000,000 3,000,000 shares authorized Additional paid-in capital: Preferred stock............................................... $400,000 Common stock................................................$25,600,000 $ 26,000,000 Retained earnings.............................................................................$4,500,000 Total stockholders’ equity...............................................................$66,500,000 d)How much dividends to the preferred stockholderes receive? e)What is the market price of the common stock? f)What is the total amount of legal capital? g)What is the total paid-in capital? h)What is the book value per…
A company issued 60 shares of $100 par value common stock for $7,900 cash. The journal entry to record the issuance is: Multiple Choice Debit Cash $7,900; credit Common Stock $7,900. Debit Investment in Common Stock $7,900; credit Cash $7,900. Debit Cash $7,900; credit Common Stock $6,000; credit Paid-in Capital in Excess of Par Value, Common Stock $1,900. Debit Common Stock $6,000, debit Investment in Common Stock $1,900; credit Cash $7,900. Debit Cash $7,900; credit Paid-in Capital in Excess of Par Value, Common Stock $6,000, credit Common Stock $1,900.
Stockholdersequity: 6% preferred stock, $100 par value, .............................................$20,000,000 500,000 shares authorized. Common stock, $10 par value,.......................................................$16,000,000 3,000,000 shares authorized Additional paid-in capital: Preferred stock............................................... $400,000 Common stock................................................$25,600,000 $ 26,000,000 Retained earnings.............................................................................$4,500,000 Total stockholders’ equity...............................................................$66,500,000 e) What is the market price of the common stock? h) What is the book value per share of common stock? (Assume no dividends in arrears) i) What is the book value per share of common stock assuming that dividends are one year in arrears?
Day Inc. has 6,541 shares of 5%, $100 par value cumulative preferred stock and 90,851 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? Select the correct answer. a-$4,543 in total b-$32,705 in total c-$50.00 per share d-$6,541 in total