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November 23, 2014

Homework Help: acc/291

Posted by at on Monday, June 11, 2012 at 3:54pm.

The following stockholders’ equity accounts arranged alphabetically are in the ledger
of McGrath Corporation at December 31, 2011.
Common Stock ($10 stated value) $1,500,000
Paid-in Capital from Treasury Stock 6,000
Paid-in Capital in Excess of Stated Value—Common Stock 690,000
Paid-in Capital in Excess of Par Value—Preferred Stock 288,400
Preferred Stock (8%, $100 par, noncumulative) 400,000
Retained Earnings 776,000
Treasury Stock—Common (8,000 shares) 88,000
Instructions
(a) Prepare a stockholders’ equity section at December 31, 2011.
(b) Compute the book value per share of the common stock, assuming the preferred stock has a
call price of $110 per share.

this is an example of whats going to be on test trying to ffigure it out to practice but cant

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