Yam-Hash incorporation has 1,750,000 shares of authorized common stock, each having an Rs.1 par value. Over the years, it has issued 1,532,000 shares, but currently 63,000 are held as treasury stock. The additional paid-in capital of the company is presently Rs.5,314,000 and retained earnings are 5,540,000

Principles of Accounting Volume 1
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ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 10EB: Ammon Company is authorized to issue 500,000 shares of $5 par value preferred stock. In its first...
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Yam-Hash incorporation has 1,750,000 shares of authorized common stock, each having an Rs.1 par value. Over the years, it has issued 1,532,000 shares, but currently 63,000 are held as treasury stock. The additional paid-in capital of the company is presently Rs.5,314,000 and retained earnings are 5,540,000. Company has declared stock dividend of 15% when market price of the share is Rs.35. Reformulate the equity statement.

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