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Alex17521 [72]
3 years ago
15

The stockholders’ equity section of Velcro World is presented here.

Business
1 answer:
Nina [5.8K]3 years ago
3 0

Answer:

Velcro World

1. Prefered stock issued = 5,800,000

2. Common stock issued = 28,000,000

3. Average price of preferred stock = $38

4. Net income for the year =                       $66

5. Average cost per share of the treasury stock acquired =  $30

Explanation:

a) Data and Calculations:

VELCRO WORLD

Balance Sheet (partial)

($ and shares in thousands)

Stockholders' equity:

Preferred stock, $1 par value      $ 5,800

Common stock, $1 par value       28,000

Additional paid-in capital         1,028,600

Total paid-in capital                 1,062,400

Retained earnings                     286,000

Treasury stock, 12,000             (360,000)

Total stockholders' equity     $ 988,400

1. Prefered stock issued = 5,800,000

2. Common stock issued = 28,000,000

3. Additional paid in capital = 1,028,600,000

less common stock (part)         812,000,000 ($29 * 28,000,000)

Preferred stock (part)               216,600,000

add Preferred stock                     5,800,000

Total preferred stock value    222,400,000

Average price = 222,400,000/5,800,000 = $38

4. Retained earnings at the end =        $286,000,000

add dividends paid during the year          30,000,000

Retained earnings at the beginning = $250,000,000

Net income for the year =                       $66,000,000

$66

5. Average cost per share of the treasury stock acquired = $360,000,000/12,000,000 = $30

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Answer:

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Explanation:

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3 years ago
"Dubas Co. is a U.S.-based MNC that has a subsidiary in Germany and another subsidiary in Austria. Both subsidiaries frequently
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Answer:

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3 years ago
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When merchandise purchased on account is returned under the perpetual inventory system, the buyer would debit a. Inventory b. Pu
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Answer:

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Answer:

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