The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) $ 110,000 Additional Paid-In Capital, Preferred 15,950 Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,300 shares) 648,900 Retained Earnings 33,000 Treasury Stock, 1,000 Preferred shares at cost (9,650) Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.)
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) $ 110,000 Additional Paid-In Capital, Preferred 15,950 Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,300 shares) 648,900 Retained Earnings 33,000 Treasury Stock, 1,000 Preferred shares at cost (9,650) Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.)
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 1MP: Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--,...
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The
Contributed Capital | |
---|---|
Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as |
$ 110,000 |
Additional Paid-In Capital, Preferred | 15,950 |
Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,300 shares) | 648,900 |
33,000 | |
Treasury Stock, 1,000 |
(9,650) |
Assume that no shares of treasury stock have been sold in the past.
Required:
Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.)
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