Financial Accounting
3rd Edition
ISBN: 9780133791129
Author: Jane L. Reimers
Publisher: Pearson Higher Ed
expand_more
expand_more
format_list_bulleted
Question
Chapter 8, Problem 33EA
1.
To determine
Identify number of common stocks are outstanding.
2.
To determine
Determine the average issue price of the common shares issued.
3.
To determine
Determine the par value of the
4.
To determine
Determine the
5.
To determine
Determine the average cost per share.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Required:
Determine the following items based on Eldon's balance sheet. Round all calculations except per-share amounts to the nearest whole number; round per-share amounts to the nearest cent.
1. The number of shares of preferred stock issued
? shares
2. The number of shares of preferred stock outstanding
? shares
3. The average per-share sales price of the preferred stock when issued
$? per share
4. The par value of the common stock
$? per share
The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows.
Note: The market value per share of the common stock is $38, and the market value per share of the preferred stock is $18.
Required
What is the par value per share of the preferred stock?
What is the dividend per share on the preferred stock?
What is the number of common stock shares outstanding?
What was the average issue price per share (price for which the stock was issued) of the common stock?
If Mann Equipment Company declared a 2-for-1 stock split on the common stock, how many shares would be outstanding after the split? What amount would be transferred from the Retained Earnings account because of the stock split? Theoretically, what would be the market price of the common stock immediately after the stock split?
Stockholders’ Equity
Paid-in capital
Preferred stock, ? par value, 5% cumulative,
160,000 shares…
The following transactions and events affected its equity during the year. Question: What is the per share cost of the treasury stock purchased? *Round your answer to 2 decimal places. Cost per share?______
Chapter 8 Solutions
Financial Accounting
Ch. 8 - Prob. 1YTCh. 8 - Prob. 2YTCh. 8 - Prob. 3YTCh. 8 - Prob. 4YTCh. 8 - 1. Compare a stock split and a stock dividend. 2....Ch. 8 - Prob. 6YTCh. 8 - Prob. 1QCh. 8 - Prob. 2QCh. 8 - Prob. 3QCh. 8 - Prob. 4Q
Ch. 8 - Prob. 5QCh. 8 - Prob. 6QCh. 8 - Prob. 7QCh. 8 - Prob. 8QCh. 8 - Prob. 9QCh. 8 - Prob. 10QCh. 8 - Prob. 11QCh. 8 - Would treasury stock be considered authorized,...Ch. 8 - Prob. 13QCh. 8 - Prob. 14QCh. 8 - Prob. 15QCh. 8 - What are the two sections of the shareholders...Ch. 8 - Prob. 17QCh. 8 - Prob. 18QCh. 8 - Prob. 19QCh. 8 - Prob. 1MCQCh. 8 - Prob. 2MCQCh. 8 - Treasury stock is a. a companys own stock that it...Ch. 8 - Prob. 4MCQCh. 8 - Prob. 5MCQCh. 8 - Prob. 6MCQCh. 8 - The number of shares of stock designated as issued...Ch. 8 - Prob. 8MCQCh. 8 - Prob. 9MCQCh. 8 - Prob. 10MCQCh. 8 - Prob. 1SEACh. 8 - Prob. 2SEACh. 8 - Prob. 3SEACh. 8 - Prob. 4SEACh. 8 - Prob. 5SEACh. 8 - Prob. 6SEACh. 8 - Prob. 7SEACh. 8 - Prob. 8SEACh. 8 - Prob. 9SEACh. 8 - Calculate retained earnings balance. (LO 5)....Ch. 8 - Prob. 11SEACh. 8 - Prob. 12SEBCh. 8 - Prob. 13SEBCh. 8 - Prob. 14SEBCh. 8 - Prob. 15SEBCh. 8 - Prob. 16SEBCh. 8 - Prob. 17SEBCh. 8 - Prob. 18SEBCh. 8 - Prob. 19SEBCh. 8 - Prob. 20SEBCh. 8 - Prob. 21SEBCh. 8 - Prob. 22SEBCh. 8 - Prob. 23EACh. 8 - Prob. 24EACh. 8 - Prob. 25EACh. 8 - Prob. 26EACh. 8 - Prob. 27EACh. 8 - Prob. 28EACh. 8 - Prob. 29EACh. 8 - Prob. 30EACh. 8 - Prob. 31EACh. 8 - Analyze equity accounts. (LO 1, 2, 3, 5). The...Ch. 8 - Prob. 33EACh. 8 - Prob. 34EACh. 8 - Prob. 35EACh. 8 - Prob. 36EACh. 8 - Prob. 37EACh. 8 - Prob. 38EACh. 8 - Prob. 39EBCh. 8 - Prob. 40EBCh. 8 - Prob. 41EBCh. 8 - Prob. 42EBCh. 8 - Prob. 43EBCh. 8 - Prob. 44EBCh. 8 - Prob. 45EBCh. 8 - Prob. 46EBCh. 8 - Prob. 47EBCh. 8 - Prob. 48EBCh. 8 - Prob. 49EBCh. 8 - Prob. 50EBCh. 8 - Prob. 51EBCh. 8 - Prob. 52EBCh. 8 - Prob. 53EBCh. 8 - Prob. 54EBCh. 8 - Prob. 55PACh. 8 - Prob. 56PACh. 8 - Prob. 57PACh. 8 - Prob. 58PACh. 8 - Prob. 59PACh. 8 - Prob. 60PACh. 8 - Prob. 61PACh. 8 - Prob. 62PACh. 8 - Prob. 63PBCh. 8 - Prob. 64PBCh. 8 - Prob. 65PBCh. 8 - Prob. 66PBCh. 8 - Prob. 67PBCh. 8 - Prob. 68PBCh. 8 - Prob. 69PBCh. 8 - Prob. 70PBCh. 8 - Prob. 1FSACh. 8 - Prob. 2FSACh. 8 - Prob. 3FSACh. 8 - Prob. 1CTPCh. 8 - Prob. 2CTPCh. 8 - Prob. 1IECh. 8 - Prob. 2IECh. 8 - Prob. 3IECh. 8 - Prob. 4IECh. 8 - Prob. 5IE
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Using the data in the table to the right, calculate the return for investing in the stock from January 1 to December 31. Prices are after the dividend has been paid. Return for the entire period is. (Round to two decimal places.) Date Jan 1 Feb 5 May 14 Aug 13 Nov 12 Dec 31 Price $31.42 $31.65 $28.33 $31.96 $39.34 $42.32 Dividend D $0.22 $0.21 $0.19 $0.19 1arrow_forwardCarlos Company had the following stock outstanding and Retained Earnings at December 31, 2018: Common Stock (par $1; outstanding, 400,000 shares) Preferred Stock, 9% (par $10; outstanding, 18,100 shares) Retained Earnings $ 400,000 181,000 957,000 On December 31, 2018, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2016 or 2017. Three independent cases are assumed: The preferred stock is noncumulative; the total amount of 2018 dividends would be $18,000. The preferred stock is cumulative; the total amount of 2018 dividends would be $15,000. Dividends were not in arrears prior to 2016. Same as Case B, except the amount is $58,000. Case A: Case B: Case C: Required: 1-a. Compute the amount of 2018 dividends, in total, that would be payable to each class of stockholders if dividends were declared as described in each case. 1-b. Compute the amount of 2018 dividends per share payable to…arrow_forwardUsing the data in the following table, E, calculate the return for investing in this stock from January 1 to December 31. Prices are after the dividend has been paid. The return for investing in this stock from January 1 to December 31 is ☐ %. (Round to two decimal places.) Data table (Click on the following icon in order to copy its contents into a spreadsheet.) Stock Price Dividend Jan 1 $49.96 Mar 31 $51.07 $0.59 Jun 30 $49.52 $0.58 Sep 30 $52.02 $0.77 Dec 31 $52.39 $0.77 Print Done - Xarrow_forward
- Using the data in the following table, calculate the return for investing in this stock from January 1 to December 31. Prices are after the dividend has been paid. 1% The return for investing in this stock from January 1 to December 31 is %. (Round to two decimal places.) Data table (Click on the following icon in order to copy its contents into a spreadsheet.) Stock Price Dividend Jan 1 $50 12 Mar 31 $51.08 $0.52 Jun 30 $49 48 $0.55 Sep 30 $52.02 $0.78 Dec 31 $52.46 $0.72 Print Donearrow_forwardRequirement 1. Compute AustinAustin Company's earnings per share for 20182018. Assume the company paid the minimum preferred dividend during 20182018. Round to the nearest cent. Select the formula, then enter the amounts to calculate the company's earnings per share for 20182018. (Abbreviations used: Ave. = average, OS = outstanding, SE = stockholders' equity, shrs = shares.) ( - ) / = Earnings per share ( - ) / = Choose from any list or enter any number in the input fields and then click Check Answer. 2 parts remaining Clear All Check Answer Data Table 2018 2017 Income Statement—partial: Net Income $6,660 $20,000 Dec. 31, 2018 Dec. 31, 2017 Balance Sheet—partial: Total Assets $200,000 $265,000 Paid-In Capital: Preferred Stock—9%, $6 Par Value;…arrow_forward3. Below is a snapshot of some information about Microsoft Corporation from Yahoo! Finance on 10/16/2019. B) What is the Microsoft stock price and the market cap? C) Based on the information you collected in question (1), what is the total number of shares outstanding for Microsoft? (Hint: Market cap is the short name for “Market capitalization”. It represents the market value of a company’s total outstanding shares. It is equal to the stock price per share* total number of shares outstanding). D)What is Microsoft dividend payment and dividend yield?arrow_forward
- 17. Analyze the equity section of Gingerbread Corp's balance sheet and determine the following. Be careful to discriminate between a non monetary value and a monetary value. Use a $ sign to indicate a dollar value. 1.Number of shares of common stock that have been issued 2.Number of shares of preferred stock that have been issued 3.BlankDollar value the company paid to repurchase their own stock 4.How many shares of stock are in treasury stock?arrow_forwardPrepare a statement of stockholders' equity for Al-Can Products, Inc. Navigate to the Stockholders' Equity Statement tab in the spreadsheet. Use the following information to prepare your statement: a. January 1 balance of capital stock account of 9,000 shares issued at $6.00 per share was $54,000.00. b. No other stock was issued during the year. c. January 1 balance of retained earnings account was $29,250.00. d. Net Income was $41,106.00. e. Dividends declared during the year were $19,200.00.arrow_forwardYou are given the following information: Stockholders’ equity !$3.75 billion, price/earnings ratio ! 3.5, common shares outstanding ! 50 million, and market/book ratio ! 1.9. Calculate the price of a share of the company’s common stockarrow_forward
- Beacon Corporation issued a 5 percent stock dividend on 39,500 shares of its $7 par common stock. At the time of the dividend, the market value of the stock was $27 per share. Required: a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount of the stock dividend. Stock dividendarrow_forwardUsing the data in the table to the right, calculate the return for investing in the stock from January 1 to December 31. Prices are after the dividend has been paid. Return for the entire period is%. (Rourd to two decimal places.) Date Jan 1 Feb 5 May 14 Aug 13 Nov 12 Dec 31 Price $34.01 $29.79 $28.38 $33.82 $37.51 $41.91 Dividend $0.21 $0.21 $0.18 $0.21arrow_forwardMatch (by letter) the following terms with their definitions. Each letter is used only once.Terms_____ 1. PE ratio._____ 2. Stockholders’ equity section of the balance sheet._____ 3. Accumulated deficit._____ 4. Growth stocks._____ 5. 100% stock dividend._____ 6. Statement of stockholders’ equity._____ 7. Treasury stock._____ 8. Value stocks._____ 9. Return on equity._____ 10. Retained earnings.Definitionsa. A debit balance in Retained Earnings.b. Priced high in relation to current earnings as investors expect future earnings to be higher.c. Effectively the same as a 2-for-1 stock split.d. The earnings not paid out in dividends.e. The stock price divided by earnings per share.f. Summarizes the changes in the balance in each stockholders’ equity account over a period of time.g. Priced low in relation to current earnings.h. Measures the ability of company management to generate earnings from the resources that owners provide.i. Shows the balance in each equity account at a point in…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education
What Are Stock Buybacks and Why Are They Controversial?; Author: TD Ameritrade;https://www.youtube.com/watch?v=2O4bmcliaog;License: Standard youtube license