The year-end balance sheet of Manor, Inc., includes the following stockholders' equity section(with certain details omitted):LO4 PROBLEM 11.58Analysis of an EquityLO6 Section of a BalanceSheetStockholders' equity:10% cumulative preferred stock, $100 par value,authorized 100,000 shares.Common stock, $2 par value, authorized2,000,000 shares ..Additional paid-in capital: common stock$ 4,400,0003,400,0006,800,000Donated capital400,0003.160.000$18.160,000Retained earnings .Total stockholders' equity.InstructionsFrom this information, compute answers to the following questions:a. How many shares of preferred stock have been issued?h What is the total amount of the annual dividends paid to preferred stockholders?c. How many shares of common stock are outstanding?d. What was the average issuance price per share of common stock?e. What is the amount of legal capital?t. What is the total amount of paid-in capital?g What is the book value per share of common stock? (There are no dividends in arrears.)h. Assume that retained earnings at the beginning of the year amounted to $1,200,000 and thenet income for the year was $4.800,000. What was the dividend declared during the year oneach share of common stock? (Hint: Net income increases retained earnings, whereas divi-dends decrease retained earnings.)

Equity shareholders are considered owners of the company. Whereas the preference shareholders are…

The year-end balance sheet of Manor, Inc., includes the following stockholders' equity section (with certain details omitted): Stockholders' equity: 10% cumulative preferred stock, $100 par value, authorized 100,000 shares.. $ 400,000 ....... Common stock, $2 par value, authorized 2,000,000 shares... Additional paid-in capital: common stock Donated capital Retained earnings Total stockholders' equity 3,400,000 6,800,000 400,000 3,160,000 $18,160,000

The year-end balance sheet of Manor, Inc., includes the following stockholders' equity section (with certain details omitted): Stockholders' equity: 10% cumulative preferred stock, $100 par value, authorized 100,000 shares.. $ 400,000 ....... Common stock, $2 par value, authorized 2,000,000 shares... Additional paid-in capital: common stock Donated capital Retained earnings Total stockholders' equity 3,400,000 6,800,000 400,000 3,160,000 $18,160,000

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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