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Category > Business & Finance Posted 15 Jul 2017 My Price 7.00

1. Following are the equity accounts for Kerch Manufacturing.

1. Following are the equity accounts for Kerch Manufacturing.

Common stock, $2 par

$ 135,430

Capital surplus

203,145

Retained earnings

2,370,025

Total

$2,708,600

a. How many shares are outstanding?

b. At what average price were the shares sold?

c. What is the book value of Kerch stock?

2. The Eastern Spruce equity accounts for last year are as follows:

Common stock, $1 500

  

Shares outstanding

(1)

Capital surplus

$ 50,000

Retained earnings

100,000

Total

(2)

a. Fill in the missing numbers.

b. Eastern decided to issue 1,000 shares of new stock. The current price is $30 per share.

Show the effects of the new issue upon the equity accounts

Answers

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Status NEW Posted 15 Jul 2017 09:07 AM My Price 7.00

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