At December 31, the records of Seacrest Enterprises provided the following selected and incomplete data: Common stock (par $1; no changes during the current year). Shares authorized, 10,000,000. Shares issued, ? issue price $11 per share. Shares held as treasury stock, 57,000 shares, cost $12 per share. Net income for the current year, $2,060,100 Common Stock account, $820,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $37,100,000. Required: Complete the following: (Round per share to decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is. 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of
At December 31, the records of Seacrest Enterprises provided the following selected and incomplete data: Common stock (par $1; no changes during the current year). Shares authorized, 10,000,000. Shares issued, ? issue price $11 per share. Shares held as treasury stock, 57,000 shares, cost $12 per share. Net income for the current year, $2,060,100 Common Stock account, $820,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $37,100,000. Required: Complete the following: (Round per share to decimal places.) 1-a. Shares issued 1-b. Shares outstanding 2. The balance in Additional Paid-in Capital would be 3. Earnings per share is. 4. Total dividends paid on common stock during the current year is 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 1MP: Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--,...
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