Posted by Kathy on Wednesday, September 22, 2010 at 9:06pm.
Jones Company is authorized to issue 20,000 shares of no-par, $5 stated-value common stock and 5,000 shares of 9%, 100 par preferred stock. It enters into the following transaction:
1. Accepts a subscription contract to 7,000 shares of common stock at $42 per share and receives a 30% down payment
2. Collects the remaining balance of the subscription contract and issues the common stock
3. Acquires a building by paying $23,00 cash and issuing 2,,000 shares of common stock and 600 shares of preferred stock. Common stock is currently selling at $46 per share; preffed stock has no current market value. The building is appraised at $180,000
4. Sells 1,000 shares of common stock at $45 per share
5. Sells 900 shares of preferred stock at $112 per share
6. Declares a two-for-one stock split on the common stock, reducing the stated value to $2.50 per share
- accounting - Tina jones, Wednesday, January 30, 2013 at 12:35am
Raphael Corporation’s common stock is currently selling on a stock exchange at $85 per share, and its current balance sheet shows the following stockholders’ equity section:
Preferred stock—5% cumulative, $___ par value, 1,000 shares
authorized, issued, and outstanding $ 50,000
Common stock—$___ par value, 4,000 shares authorized, issued,
and outstanding 80,000
Retained earnings 150,000
Total stockholders' equity $ 280,000
1. What is the current market value (price) of this corporation’s common stock?
- accounting - calhoun, Wednesday, October 9, 2013 at 4:39pm
Answer This Question
More Related Questions
- accounting - Finishing Touches has two classes of stock authorized: 8%, $10 par ...
- Accounting/Finance - Temte Corporation is authorized to issue 1,000,000 shares ...
- Accounting - When Resisto Systems, Inc., was formed, the company was authorized...
- Accountin - Balance sheet help Preferred stok-$5.00 par 50,000 balance Common ...
- accounting - Pearson began 20XX with 30,000 $1 common shares issued and ...
- accounting - Swan Creek Company has 40,000 shares of cumulative preferred 2% ...
- Finance - You are provided the following information on a company. The total ...
- Acounting - How can I make journal entry for a corporation called H who is ...
- accounts - Ex 11.5 The year-end balance sheet of Jackson Products, INC., ...
- Accounting - Olympic Theatre Inc. owns and operates movie theaters throughout ...