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MAXImum [283]
4 years ago
5

The stockholders' equity section on the December 31, 2012, balance sheet of Chemfast Corporation reported the following amounts:

Business
1 answer:
Lina20 [59]4 years ago
6 0

Answer:

1. The number of Shares of Preferred Stock issued was

88000/20 =  4400  

2. Number of shares outstanding was

4400 - 1000=   3400  

3. Average issue price of the preferred stock was

(88000+10340)/4400= 22.35  

4. Average issue price of the common stock was

(478400/5200)=  92

5. The treasury stock transaction decreased stock equity by  9100  

6. The treasury stock cost (9100/1000)=    9.1  

7. Total stockholder Equity is     589,640

Stockholders Equity        

Capital stock        

Preferred stock   88000    

paid in capital in excess of par  10340    

Common stock   478400    

total paid in capital   576740    

Retained Earnings   22000    

total paid in capital & Retained earnings 598740    

less Treasury stock   -9100    

total Stockholders Equity  589640

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