1. The following is a list of stockholders' equity accounts appearing on the balance sheet for Whiteheart Corporation on December 31, 20X3. Common stock, $10 par value P300,000 Paid-in capital in excess of par-common 200,000 Retained earnings 225,000 Preferred stock, P50 par value 150,000 Paid-in capital in excess of par-preferred 30,000 Determine the following: a) How many shares of preferred stock have been issued? b) What was the average issuance price of the preferred stock per share? c) How many shares of common stock have been issued?
1. The following is a list of stockholders' equity accounts appearing on the balance sheet for Whiteheart Corporation on December 31, 20X3. Common stock, $10 par value P300,000 Paid-in capital in excess of par-common 200,000 Retained earnings 225,000 Preferred stock, P50 par value 150,000 Paid-in capital in excess of par-preferred 30,000 Determine the following: a) How many shares of preferred stock have been issued? b) What was the average issuance price of the preferred stock per share? c) How many shares of common stock have been issued?
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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1. The following is a list of
Whiteheart
Corporation on December 31, 20X3.
Common stock, $10 par value P300,000
Paid-in capital in excess of par-common 200,000
Paid-in capital in excess of par-preferred 30,000
Determine the following:
a) How many shares of preferred stock have been issued?
b) What was the average issuance price of the preferred stock per share?
c) How many shares of common stock have been issued?
d) What is total paid-in capital?
e) What is total stockholders' equity?
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