Question: The following stockholders equity accounts arranged alphabetically are in the 118322

The following stockholders’ equity accounts arranged alphabetically are in the ledger of Rizzo Corporation at December 31, 2011.
Common Stock ($5 stated value) ........... $2,500,000
Paid-in Capital from Treasury Stock ............. 10,000
Paid-in Capital in Excess of Stated Value—Common Stock . 1,600,000
Paid-in Capital in Excess of Par Value—Preferred Stock ... 679,000
Preferred Stock (8%, $50 par, noncumulative) ....... 800,000
Retained Earnings .................. 1,448,000
Treasury Stock—Common (10,000 shares) ........ 130,000

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 $60 per share.


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  • CreatedMay 22, 2012
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