Maurice Tutor

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Category > Accounting Posted 11 Aug 2017 My Price 11.00

Chemfast Corporation

The stockholders' equity section on the December 31, 2009, balance sheet of Chemfast Corporation reported the following amounts:

       
Contributed Capital      
Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 500 shares are held as treasury stock) $ 104,000  
Additional Paid-in Capital, Preferred   14,300  
Common Stock (no-par; authorized 20,000 shares, issued and outstanding 8,000 shares)   600,000  
Retained Earnings   30,000  
Preferred Treasury Stock, 500 shares at cost   9,500  
Assume that no shares of treasury stock have been sold in the past.

 

Required:

Complete the following statements. (Round your answers to 2 decimal places. Omit the "$" sign in your response.)
1. The number of shares of preferred stock issued was .
2. The number of shares of preferred stock outstanding was .
3. The average issue price of the preferred stock was $ per share.
4. The average issue price of the common stock was $ .
5. The treasury stock transaction (Click to select)decreasedincreased stockholders' equity by $ .
6. The treasury stock cost $ per share.
7. Total stockholders' equity is $ .

 

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 02:08 PM My Price 11.00

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