3. Please refer to the equity section of the balance sheet shown as follows: Preferred stock $100 par, 10,000 shares authorized, 1,000 shares issued $100,000 $1 par, 500,000 shares authorized,? shares issued Common stock Paid-in capital in excess of par -common stock Retained earnings Total stockholders' equity The amount shown for earnings would be called a(n): A) net loss. B) earnings shortfall. C) retained earnings deficit. D) loss on sale of stock. 20,000 350,000 (74,000) $396,000 Retained 4. Based on the info above, determine the number of common stock issued. 5. Based on the info above determine the issue/market price for the common stock.
3. Please refer to the equity section of the balance sheet shown as follows: Preferred stock $100 par, 10,000 shares authorized, 1,000 shares issued $100,000 $1 par, 500,000 shares authorized,? shares issued Common stock Paid-in capital in excess of par -common stock Retained earnings Total stockholders' equity The amount shown for earnings would be called a(n): A) net loss. B) earnings shortfall. C) retained earnings deficit. D) loss on sale of stock. 20,000 350,000 (74,000) $396,000 Retained 4. Based on the info above, determine the number of common stock issued. 5. Based on the info above determine the issue/market price for the common stock.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In additin to the above question:
- Prepare the company’s
Stockholders equity section of thebalance sheet at December 31, 2021. (Hint!!!!!!!) The following information must be clearly stated/shown:- information on par or par values for all classes of shares which must be shown separately.
- the number of shares authorized and issued where necessary.
- the sub total for the total paid in capital.
- Retained earnings.
- total stockholders’ equity.
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