The stockholder's equity section of Rashid Corporation's balance sheet appears as follows: Stockholders' Equity: $5 Preferred Stocks, $100 P.V, callable at $110 500,000 Authorized Common Stocks, $5 P.V 7000,000 Authorized, Additional Paid in Capital Preferred Stocks 15000,000 16000,000 560,000 Common Stocks Retained Earnings at end Total Shareholder's Equity 3000,000 3560,000 5000,000 39560,000 Instructions: On the basis of above information, answer the following questions and show any necessary supporting computations: a) How many shares of preferred stocks have been issued? b) What is the total annual dividend requirement on the outstanding preferred stocks? c) How many shares of common stocks have been issued? d) What was the average price per share received by the Corporation for its common stocks? e) What is the total amount of legal capital? f) What is the total paid in capital? 8) What is book value per share of common stocks?
The stockholder's equity section of Rashid Corporation's balance sheet appears as follows: Stockholders' Equity: $5 Preferred Stocks, $100 P.V, callable at $110 500,000 Authorized Common Stocks, $5 P.V 7000,000 Authorized, Additional Paid in Capital Preferred Stocks 15000,000 16000,000 560,000 Common Stocks Retained Earnings at end Total Shareholder's Equity 3000,000 3560,000 5000,000 39560,000 Instructions: On the basis of above information, answer the following questions and show any necessary supporting computations: a) How many shares of preferred stocks have been issued? b) What is the total annual dividend requirement on the outstanding preferred stocks? c) How many shares of common stocks have been issued? d) What was the average price per share received by the Corporation for its common stocks? e) What is the total amount of legal capital? f) What is the total paid in capital? 8) What is book value per share of common stocks?
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter8: Liabilities And Stockholders' Equity
Section: Chapter Questions
Problem 8.24E
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