Denia Corporation Balance Sheet (partial) At December 31, 2020 Paid-in Capital Common Stock, $9 par value, 3,000,000 shares authorized, $10,530,000 shares issued, and shares outstanding Additional Paid-in Capital in Excess of Par $4.680,000 Total Paid-in Capital $15,210,000 Retained Earnings $11,380,000 Total Shareholders’ Equity $26,590,000 Instructions: Complete the following statements and show your calculations! a) The number of shares of common stock issued and outstanding was b) The average sales price of the common stock when issued was $ c) During 2021 if Denia Corporation has issued common stock equal to 30% of the outstanding common stock at a price of 120% of the par value, the number of shares issued and outstanding would be and the total paid-in capital would be $ d) During 2021 if there is a net income of $2,550,000 then the total stockholders' equity balance after adding the calculation in point (C) will be $

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Denia Corporation
Balance Sheet (partial)
At December 31, 2020
Paid-in Capital
Common Stock, $9 par value, 3,000,000 shares authorized,
$10,530,000
shares issued, and shares outstanding
Additional Paid-in Capital in Excess of Par
$4.680,000
Total Paid-in Capital
$15,210,000
Retained Earnings
$11,380.000
Total Shareholders’ Equity
$26,590,000
Instructions:
Complete the following statements and show your calculations!
a) The number of shares of common stock issued and outstanding was
b) The average sales price of the common stock when issued was $
c) During 2021 if Denia Corporation has issued common stock equal to 30% of
the outstanding common stock at a price of 120% of the par value, the number
of shares issued and outstanding would be
and the total paid-in
capital would be $
d) During 2021 if there is a net income of $2,550,000 then the total
stockholders' equity balance after adding the calculation in point (C) will be
$.
Transcribed Image Text:Denia Corporation Balance Sheet (partial) At December 31, 2020 Paid-in Capital Common Stock, $9 par value, 3,000,000 shares authorized, $10,530,000 shares issued, and shares outstanding Additional Paid-in Capital in Excess of Par $4.680,000 Total Paid-in Capital $15,210,000 Retained Earnings $11,380.000 Total Shareholders’ Equity $26,590,000 Instructions: Complete the following statements and show your calculations! a) The number of shares of common stock issued and outstanding was b) The average sales price of the common stock when issued was $ c) During 2021 if Denia Corporation has issued common stock equal to 30% of the outstanding common stock at a price of 120% of the par value, the number of shares issued and outstanding would be and the total paid-in capital would be $ d) During 2021 if there is a net income of $2,550,000 then the total stockholders' equity balance after adding the calculation in point (C) will be $.
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