Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN: 9781305654174
Author: Gary A. Porter, Curtis L. Norton
Publisher: Cengage Learning
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2
The market price of a share of common stock at the time of issuance was $18.00, while the market price of a preferred share of stock
at the time of issuance was $27.50. The company paid $12.50 per share for its treasury stock.
Required:
Determine the missing amount in the stockholders' equity section of the balance sheet set forth below. (Input all amounts as positive
values.)
Stockholders' Equity
Preferred Stock, $2 par value, authorized 1,000,000 shares; issued 600,000 shares
Additional Paid-In Capital
Common Stock, $3 par value, authorized 40,000,000 shares; issued 17,500,000 shares
Additional Paid-In Capital
Total Contributed Capital
Retained Earnings
Treasury Stock, at Cost (11,000 shares)
Total Stockholders' Equity
207,183,000
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Transcribed Image Text:2 The market price of a share of common stock at the time of issuance was $18.00, while the market price of a preferred share of stock at the time of issuance was $27.50. The company paid $12.50 per share for its treasury stock. Required: Determine the missing amount in the stockholders' equity section of the balance sheet set forth below. (Input all amounts as positive values.) Stockholders' Equity Preferred Stock, $2 par value, authorized 1,000,000 shares; issued 600,000 shares Additional Paid-In Capital Common Stock, $3 par value, authorized 40,000,000 shares; issued 17,500,000 shares Additional Paid-In Capital Total Contributed Capital Retained Earnings Treasury Stock, at Cost (11,000 shares) Total Stockholders' Equity 207,183,000
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