Torre Company has the following account balances on December 31.Common Stock, $5 par (60,000 shares issued)Paid-In Capital in Excess of Par-Common StockPreferred Stock, $100 par (5,000 shares issued)Paid-In Capital in Excess of Par-PreferredRetained EarningsTreasury Stock (cost, $12 per common share)Answer the following questions:a. How many shares of treasury stock are owned?shares$300,000600,000500,000100,000200,00060,000b. What was the average market price per share at which common stock was issued?$per sharec. What was the average market price per share at which preferred stock was issued?$per shared. What is the total value of the paid-in capital portion of stockholders' equity?

Stockholders' Equity Also Called As Shareholders' Equity. It Includes Contributed Capital,…

Answered: Torre Company has the following account…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Burton Inc. has two classes of stock, 6% $100 par cumulative Preferred Shares and $1 par Common Shares. The equity section shows: Common stock, $1 par value, 1,000,000 shares authorized and shares issued ..$470,000 Paid in capital in excess of par value...... At what average price was the common shares issued? Respond rounded to TWO DECIMALS, without a dollar sign and without commas. Your Answer: Answer $238,000
The balance sheet caption for common stock is the following: Common stock, $2 par value, 2,070,000 shares authorized, 1,310, 000 shares issued, 1,050,000 shares outstanding $? Required: a. Calculate the dollar amount that will be presented opposite this caption. b. Calculate the total amount of a cash dividend of $0.27 per share. c. What accounts for the difference between issued shares and outstanding shares? a. Amount b. Cash dividend c. Difference between issued shares and outstanding shares
The stockholders' equity section of Ayayai Corp.'s balance sheet consists of common stock ($7 par) $840,000 and retained earnings $400,000. A 10% stock dividend (12,000 shares) is declared when the market price per share is $15. (a) Show the before-and-after effects of the dividend on the components of stockholders' equity. Before Dividend After Dividend $4 $ $4 (b) Show the before-and-after effects of the dividend on the shares outstanding. Before Dividend After Dividend Outstanding shares >
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Prepare the journal entry to record Rony Company's issuance of 35,000 shares of its common stock assuming the share have a : a. $4par value and sell for $16 cash per share b. S4 stated value and sell for $16 per share.
The stockholders' equity section of Swifty Corporation consists of common stock ($10 par) $2,200,000 and retained earnings $523,000. A 10% stock dividend (22,000 shares) is declared when the market price per share is $15. Show the before-and-after effects of the dividend on the following. (a) (b) (c) The components of stockholders' equity. Shares outstanding. Par value per share. Stockholders' equity Outstanding shares Par value per share Before Dividend $ After Dividend
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Fuerman Incorporated had the following common stock record during the current calendar year Outstanding, beginning of year Additional shares issued 6/30 2,850,000 230,000 Additional shares issued 9/30 230,000 A 12% stock dividend was paid on December 1. What is the number of shares to be used in computing basic EPS? Multiple Choice 3,320,800 3,022,500 3,449,600 3,385,200
Following is the stockholders' equity section from ABC Company's balance sheet as of Dec 31, Yr 1: STOCKHOLDERS' EQUITY Common stock: $0.45 par value, authorized 600,000 shares; 175,000 shares issued: $78,750 Additional paid-in capital: 532,000 Retained earnings: 79,500 Treasury stock: (180,000) Total stockholder's equity: $510,250 a) At the time the common stock was sold, what was the cost of each common stock sold? b) Compute the average price at which ABC Company issued its common stock shares: c) Compute the number of common stock shares outstanding as of Dec 31, Yr 1.
need correct and complete help please with working
These account balances at December 31 relate to Sportplace Inc.: Accounts Payable..... $ 51,400 Preferred Shares, $0.01, Accounts Receivable. Common Shares Bonds Payable... 81,150 860,000 shares issued 595,000 Retained Earnings 86,000 71,500 3,100 Notes Receivable 12,600 If the average issue price of Sportplace's outstanding common shares is $11.90, how many common shares are issued and outstanding? OA. 50,000 OB. 595,000 O c. 100,000 OD. Unknown Next
Gordon Corporation reported the following equity section on its current balance sheet. The common stock is currently selling for OMR 11.50 per share. Common stock, OMR 5 par, 100,000 shares authorized, 40,000 shares issued OMR 200,000 Paid in capital in excess of par—common 120,000 Retained earnings 290,000 Total stockholders' equity OMR 610,000 If the company declared and issued 10% stock dividend? What will the number of issued shares Select one: a. 20,000 shares b. 44,000 shares c. 40,000 shares d. 4,000 shares

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