At December 31, 2013, the records of Seacrest Enterprises provided the following selected and incomplete data: Common

Question:

At December 31, 2013, the records of Seacrest Enterprises provided the following selected and incomplete data:
Common stock (par $1; no changes during 2013).
Shares authorized, 10,000,000.
Shares issued, ___?___ ; issue price $10 per share.
Shares held as treasury stock, 50,000 shares, cost $11 per share.
Net income for 2013, $1,400,000
Common Stock account $750,000.
Dividends declared and paid during 2013, $1 per share.
Retained Earnings balance, January 1, 2013, $36,400,000.
Required:
1. Complete the following:
Shares issued .
Shares outstanding .
2. The balance in Additional Paid-in Capital would be $ .
3. Earnings per share is $ . Round your answer to two decimal places.
4. Total dividends paid on during 2013 is $ .
5. Treasury stock should be reported in the stockholders' equity section of the in the amount of $ .
6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the per share will be $ .
7. Disregard the stock split (assumed above). Assume instead that a 100 percent stock was declared and issued after the treasury stock had been acquired, when the stock price of the was $21. Compute the dollar amount at which to record the stock Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...