Question

Frozen Entrée Corporation had the following stockholders’ equity section on the June 30, 2011, balance sheet:
Preferred stock, $125 par, 8% cumulative ....... $1,112,500
Common stock, $3 par value ............ 900,000
Paid-in capital in excess of par, common stock .... 1,500,000
Retained earnings ................ 3,115,000
Total ..................... $6,627,500
1. How many shares of common stock are classified as issued?
2. How many shares of common stock are outstanding?
3. How many shares of preferred stock are outstanding?
4. What was the average selling price of a share of common stock?
5. If $145,000 of dividends was declared and there were $15,000 dividends in arrears at that time, how much of the dividend would go to the common shareholders?



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  • CreatedSeptember 01, 2014
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