Assignment 21 - 4-13 - Total Contributed $600,000 Retained...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
P11-1 1. Shares authorized 200,000 Shares issued (2,125,000 / 17) 125,000 Shares outstanding (125,000 – 3,000) 122,000 2. Contributed capital over par: 2,125,000 – (125,000 * 10) = $875,000 3. Earnings per share: 118,000 / 122,000shares = $0.97 4. Divided per share: 73,200 / 122,000shares = $0.67 5. Treasury stock: 3,000shares * $20 = $60,000 6. Stock split, 100%: Par value after the split = $5. Outstanding shares before the split = 244,000shares 7. NO ENTRY. – The total par value before and after the split is the same. 8. Retained Earnings 256,000 Common Stock 122,000 Contributed Capital 134,000 P11-2 Stockholders’ Equity Contributed Capital: Preferred stock, 8%, par value, $10 $60,000 Common stock, par, $8 344,000 Contributed capital [preferred] 58,000 Contributed capital [common] 138,000
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Total Contributed $600,000 Retained Earnings 48,000 Total Stockholders Equity $648,000 E11-15 a. Treasury stock 50,000 Cash 50,000 Bought treasury stock. b. Cash 30,000 Treasury Stock 25,000 Capital in Excess 5,000 Sold treasury stock. c. Cash 4,000 Capital in Excess 1,000 Treasury Stock 5,000 Sold treasury stock. Its NOT possible to make a profit or loss on treasury stock therefore they DO NOT affect the income statement. E11-18 PREFERRED COMMON TOTAL Non-cumulative: Preferred $4,800 $4,800 Balance to Common $57,200 57,200 $4,800 $57,200 $62,000 Per Share $0.80 $1.43 Cumulative: Preferred, arrears $9,600 $9,600 Preferred, current 4,800 4,800 Balance to common $47,600 47,600 $14,400 $47,600 $62,000 Per Share $2.40 $1.19...
View Full Document

Page1 / 2

Assignment 21 - 4-13 - Total Contributed $600,000 Retained...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online