The stockholders’ equity section of The Seventies Shop is presented here. Required: Based on the stockholders’ equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. 1. How many shares of preferred stock have been issued? 2. How many shares of common stock have been issued? 3. Total paid-in capital is $60 million. At what price per share were the common shares issued? 4. If retained earnings at the beginning of the period was $40 million and net income during the year was $10,850,000, how much was paid in dividends for the year? 5. If the treasury stock was reacquired at $18 per share, how many shares were reacquired? 6. How much was the dividend per share?
The stockholders’ equity section of The Seventies Shop is presented here. Required: Based on the stockholders’ equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. 1. How many shares of preferred stock have been issued? 2. How many shares of common stock have been issued? 3. Total paid-in capital is $60 million. At what price per share were the common shares issued? 4. If retained earnings at the beginning of the period was $40 million and net income during the year was $10,850,000, how much was paid in dividends for the year? 5. If the treasury stock was reacquired at $18 per share, how many shares were reacquired? 6. How much was the dividend per share?
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 4CE: Prepare the stockholders equity section of the balance sheet based on the following account...
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The stockholders’ equity section of The Seventies Shop is presented here.
Required:
Based on the stockholders’ equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands.
1. How many shares of preferred stock have been issued?
2. How many shares of common stock have been issued?
3. Total paid-in capital is $60 million. At what price per share were the common shares issued?
4. If retained earnings at the beginning of the period was $40 million and net income during the year was $10,850,000, how much was paid in dividends for the year?
5. If the treasury stock was reacquired at $18 per share, how many shares were reacquired?
6. How much was the dividend per share?
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