I need the blanks filled in. I am having problems separating some of the stocks.
The following items were shown on the balance sheet of Bender
Corporation on December 31, 1996:
Stockholders' Equity
Paid-In Capital
Capital Stock
Common stock, $5 par value, 240,000 shares
authorized; ______ shares issued and ______
outstanding .................................. $1,200,000
Additional paid-in capital
In excess of par value ......................... 120,000
Total paid in capital ........................ 1,320,000
Retained Earnings .................................. 500,000
Total paid-in capital and retained earnings .. 1,820,000
Less: Treasury stock (10,000 shares) .............. (150,000)
Total stockholders' equity ................... $1,670,000
INSTRUCTIONS
Complete the following statements and show your computations.
(a) The number of shares of common stock issued was _______________.
(b) The number of shares of common stock outstanding was __________.
(c) The sales price of the common stock when issued was $__________.
(d) How much did the treasury stock cost per share? $_____________.
(e) What was the average issue price of the common stock?
$____________.
(f) Assuming that 25% of the treasury stock is sold at $20 per
share, the balance in the Treasury Stock account would be
$______________. |