The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ?...


The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts:<br>Contributed Capital<br>Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares<br>are held as treasury stock)<br>Additional Paid-In Capital, Preferred<br>Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,500<br>shares)<br>Retained Earnings<br>$114,000<br>17,100<br>682, 500<br>35, 000<br>(9,750)<br>Treasury Stock, 1,000 Preferred shares at cost<br>Assume that no shares of treasury stock have been sold in the past.<br>Required:<br>Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.)<br>Answer is not complete.<br>1.<br>The number of shares of preferred stock issued was<br>9,000 X<br>2.<br>The number of shares of preferred stock outstanding was<br>65,000 X<br>$<br>per<br>share<br>3.<br>The average issue price of the preferred stock was<br>0.57<br>4.<br>The average issue price of the common stock was<br>$<br>The treasury stock transaction increased (decreased) stockholders' equity<br>5.<br>by<br>6.<br>The treasury stock cost<br>per<br>share<br>9.75<br>7.<br>Total stockholders' equity is<br>

Extracted text: The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,500 shares) Retained Earnings $114,000 17,100 682, 500 35, 000 (9,750) Treasury Stock, 1,000 Preferred shares at cost Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.) Answer is not complete. 1. The number of shares of preferred stock issued was 9,000 X 2. The number of shares of preferred stock outstanding was 65,000 X $ per share 3. The average issue price of the preferred stock was 0.57 4. The average issue price of the common stock was $ The treasury stock transaction increased (decreased) stockholders' equity 5. by 6. The treasury stock cost per share 9.75 7. Total stockholders' equity is

Jun 02, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions ยป

Submit New Assignment

Copy and Paste Your Assignment Here