Business, 15.02.2021 20:50 sjanem03

The stockholders’ equity section of Fauberg Marigny Corporation at December 31 is as follows. FAUBERG MARIGNY CORPORATION
Balance Sheet (partial)
Stockholders' equity
Paid-in capital
Preferred stock, cumulative, 10,000 shares authorized,
5,000 shares issued and outstanding $300,000
Common stock, no par, 750,000 shares authorized,
150,000 shares issued 1,500,000
Total paid-in capital 1,800,000
Retained earnings 2,050,000
Total paid-in capital and retained earniings 3,850,000
Less: Treasury stock (5,000 common shares) (64,000)
Total stockholders' equity $3,786,000
From a review of the stockholders’ equity section:
1) How many shares of common stock are outstanding?
2) Assuming there is a stated value, what is the stated value of the common stock?Stated value of common stock per share.
3) What is the par value of the preferred stock?
4) If the annual dividend on preferred stock is $18,000, what is the dividend rate on preferred stock?
5) If dividends of $36,000 were in arrears on preferred stock, what would be the balance in retained earnings?

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 05:40

Grant, inc., acquired 30% of south co.’s voting stock for $200,000 on january 2, year 1, and did not elect the fair value option. the price equaled the carrying amount and the fair value of the interest purchased in south’s net assets. grant’s 30% interest in south gave grant the ability to exercise significant influence over south’s operating and financial policies. during year 1, south earned $80,000 and paid dividends of $50,000. south reported earnings of $100,000 for the 6 months ended june 30, year 2, and $200,000 for the year ended december 31, year 2. on july 1, year 2, grant sold half of its stock in south for $150,000 cash. south paid dividends of $60,000 on october 1, year 2. before income taxes, what amount should grant include in its year 1 income statement as a result of the investment?

Answers: 1

Answer

Business, 22.06.2019 13:10

Paid-in-capital in excess of par represents the amount of proceeds a. from the original sale of common stock b. in excess of the par value from the original sale of common stock c. at the current market value of the common stock d. at the curent book value of the common stock

Answers: 1

Answer

Business, 22.06.2019 15:00

Magic realm, inc., has developed a new fantasy board game. the company sold 15,000 games last year at a selling price of $20 per game. fixed expenses associated with the game total $182,000 per year, and variable expenses are $6 per game. production of the game is entrusted to a printing contractor. variable expenses consist mostly of payments to this contractor.required: 1-a. prepare a contribution format income statement for the game last year.1-b. compute the degree of operating leverage.2. management is confident that the company can sell 58,880 games next year (an increase of 12,880 games, or 28%, over last year). given this assumption: a. what is the expected percentage increase in net operating income for next year? b. what is the expected amount of net operating income for next year? (do not prepare an income statement; use the degree of operating leverage to compute your answer.)

Answers: 2

Answer

Business, 23.06.2019 00:30

An emerging methodology to integrate the effort of the development team and the operations team to improve the functionality and security of applications is known as

Answers: 1

Answer

You know the right answer?

The stockholders’ equity section of Fauberg Marigny Corporation at December 31 is as follows. FAUBE...

Questions