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DeZurik Corp. had the following stockholders' equity section in its June 30, 2019, balance sheet (in thousands, except share and per share amounts): Paid-in capital: $4.9 Preferred stock, $? par value, cumulative, 40,000 shares authorized, 28,000 shares issued and outstanding Common stock, $4 par value, 4,000,000 shares authorized, 830,000 shares issued, 726,000 shares outstanding Additional paid-in capital on common stock Retained earnings Less: Treasury common stock, at cost, 2 shares Total stockholders' equity June 30 (in thousands) 2019 $ 1,430 5,370 $ 15,490 Required: a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30, 2019. c. What was the average issue price of common stock shown on the June 30, 2019, balance sheet? d. How many shares of treasury stock does DeZurik Corp. own at June 30, 2019? e. Assume that the treasury shares were purchased for $18 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30, 2019. 1. Calculate the retained earnings balance at June 30, 2019, after you have completed parts a-e. (Hint: Keep in mind that Treasury Stock is a contra account.)

DeZurik Corp. had the following stockholders' equity section in its June 30, 2019, balance sheet (in thousands, except share and per share amounts): Paid-in capital: $4.9 Preferred stock, $? par value, cumulative, 40,000 shares authorized, 28,000 shares issued and outstanding Common stock, $4 par value, 4,000,000 shares authorized, 830,000 shares issued, 726,000 shares outstanding Additional paid-in capital on common stock Retained earnings Less: Treasury common stock, at cost, 2 shares Total stockholders' equity June 30 (in thousands) 2019 $ 1,430 5,370 $ 15,490 Required: a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30, 2019. c. What was the average issue price of common stock shown on the June 30, 2019, balance sheet? d. How many shares of treasury stock does DeZurik Corp. own at June 30, 2019? e. Assume that the treasury shares were purchased for $18 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30, 2019. 1. Calculate the retained earnings balance at June 30, 2019, after you have completed parts a-e. (Hint: Keep in mind that Treasury Stock is a contra account.)

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 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...
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DeZurik Corp. had the following stockholders' equity section in its June 30, 2019, balance sheet (in thousands, except share and per share amounts): Paid-in capital: $4.9 Preferred stock, $ 2 par value, cumulative, 40,000 shares authorized, 28,000 shares issued and outstanding Common stock, $4 par value, 4,000,000 shares authorized, 830,000 shares issued, 726,000 shares outstanding Additional paid-in capital on common stock Retained earnings Less: Treasury common stock, at cost, 2 shares Total stockholders' equity Complete this question by entering your answers in the tabs below. Req A Required: a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30, 2019. Req B to D Req E to F c. What was the average issue price of common stock shown on the June 30, 2019, balance sheet? d. How many shares of treasury stock does DeZurik Corp. own at June 30, 2019? e. Assume that the treasury shares were purchased for $18 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30, 2019. 1. Calculate the retained earnings balance at June 30, 2019, after you have completed parts a-e. (Hint: Keep in mind that Treasury Stock is a contra account.) Par value per share of preferred stock Preferred stock dividend percentage June 30 (in thousands) 2019 % $ 1,430 < Req A 5,370 Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. (Round your answers to 2 decimal places. (e.g., 32.16)) Req B to D > $ 15,490
Transcribed Image Text:DeZurik Corp. had the following stockholders' equity section in its June 30, 2019, balance sheet (in thousands, except share and per share amounts): Paid-in capital: $4.9 Preferred stock, $ 2 par value, cumulative, 40,000 shares authorized, 28,000 shares issued and outstanding Common stock, $4 par value, 4,000,000 shares authorized, 830,000 shares issued, 726,000 shares outstanding Additional paid-in capital on common stock Retained earnings Less: Treasury common stock, at cost, 2 shares Total stockholders' equity Complete this question by entering your answers in the tabs below. Req A Required: a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30, 2019. Req B to D Req E to F c. What was the average issue price of common stock shown on the June 30, 2019, balance sheet? d. How many shares of treasury stock does DeZurik Corp. own at June 30, 2019? e. Assume that the treasury shares were purchased for $18 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30, 2019. 1. Calculate the retained earnings balance at June 30, 2019, after you have completed parts a-e. (Hint: Keep in mind that Treasury Stock is a contra account.) Par value per share of preferred stock Preferred stock dividend percentage June 30 (in thousands) 2019 % $ 1,430 < Req A 5,370 Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. (Round your answers to 2 decimal places. (e.g., 32.16)) Req B to D > $ 15,490
DeZurik Corp. had the following stockholders' equity section in its June 30, 2019, balance sheet (in thousands, except share and per share amounts): Paid-in capital: $4.9 Preferred stock, $? par value, cumulative, 40,000 shares authorized, 28,000 shares issued and outstanding Common stock, $4 par value, 4,000,000 shares authorized, 830,000 shares issued, 726,000 shares outstanding Additional paid-in capital on common stock Retained earnings Less: Treasury common stock, at cost, 2 shares Total stockholders' equity Complete this question by entering your answers in the tabs below. Req A Req B to D Required: a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30, 2019. c. What was the average issue price of common stock shown on the June 30, 2019, balance sheet? d. How many shares of treasury stock does DeZurik Corp. own at June 30, 2019? e. Assume that the treasury shares were purchased for $18 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30, 2019. 1. Calculate the retained earnings balance at June 30, 2019, after you have completed parts a-e. (Hint: Keep in mind that Treasury Stock is a contra account.) b. Balance sheet amount for common stock c. Average issue price of common stock d. Treasury shares June 30 (in thousands) 2019 Req E to F b. Calculate the amount that should be shown on the balance sheet for common stock at June 30, 2019. (Enter your answer in thousands of dollars.) c. What was the average issue price of common stock shown on the June 30, 2019, balance sheet? (Round your answer to 2 decimal places. (e.g., 32.16)) d. How many shares of treasury stock does DeZurik Corp. own at June 30, 2019. < Req A $ 1,430 Req E to F > 5,370 $ 15,490 Show less A
Transcribed Image Text:DeZurik Corp. had the following stockholders' equity section in its June 30, 2019, balance sheet (in thousands, except share and per share amounts): Paid-in capital: $4.9 Preferred stock, $? par value, cumulative, 40,000 shares authorized, 28,000 shares issued and outstanding Common stock, $4 par value, 4,000,000 shares authorized, 830,000 shares issued, 726,000 shares outstanding Additional paid-in capital on common stock Retained earnings Less: Treasury common stock, at cost, 2 shares Total stockholders' equity Complete this question by entering your answers in the tabs below. Req A Req B to D Required: a. Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage. b. Calculate the amount that should be shown on the balance sheet for common stock at June 30, 2019. c. What was the average issue price of common stock shown on the June 30, 2019, balance sheet? d. How many shares of treasury stock does DeZurik Corp. own at June 30, 2019? e. Assume that the treasury shares were purchased for $18 per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June 30, 2019. 1. Calculate the retained earnings balance at June 30, 2019, after you have completed parts a-e. (Hint: Keep in mind that Treasury Stock is a contra account.) b. Balance sheet amount for common stock c. Average issue price of common stock d. Treasury shares June 30 (in thousands) 2019 Req E to F b. Calculate the amount that should be shown on the balance sheet for common stock at June 30, 2019. (Enter your answer in thousands of dollars.) c. What was the average issue price of common stock shown on the June 30, 2019, balance sheet? (Round your answer to 2 decimal places. (e.g., 32.16)) d. How many shares of treasury stock does DeZurik Corp. own at June 30, 2019. < Req A $ 1,430 Req E to F > 5,370 $ 15,490 Show less A
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