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Thousand Islands Resorts has 1,750,000 shares of authorized common stock, each having a $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 $5,314,000. A. How many shares are now outstanding?Format: 1,111,111 B..If the company were able to sell stock at $19 per share, what is the maximum amount it could raise under its existing authorization, including treasury shares.Format: 1,111,111 C.What would be its common stock after the financing?Format: 1,111,111 D.What would be its additional paid-in capital accounts after the financing?Format: 11,111,111

Thousand Islands Resorts has 1,750,000 shares of authorized common stock, each having a $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 $5,314,000. A. How many shares are now outstanding?Format: 1,111,111 B..If the company were able to sell stock at $19 per share, what is the maximum amount it could raise under its existing authorization, including treasury shares.Format: 1,111,111 C.What would be its common stock after the financing?Format: 1,111,111 D.What would be its additional paid-in capital accounts after the financing?Format: 11,111,111

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 9P: Comprehensive Young Corporation has been operating successfully for several years. It is authorized...
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Thousand Islands Resorts has 1,750,000 shares of authorized common stock, each having a $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 $5,314,000.

 

A. How many shares are now outstanding?Format: 1,111,111

B..If the company were able to sell stock at $19 per share, what is the maximum amount it could raise under its existing authorization, including treasury shares.Format: 1,111,111

C.What would be its common stock  after the financing?Format: 1,111,111

D.What would be its additional paid-in capital accounts after the financing?Format: 11,111,111

 

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