Question

The stockholders’ equity section on the December 31, 2014, balance sheet of American Corporation follows:


Required:
Complete the following statements and show your computations.
1. The number of shares of preferred stock issued was _____ .
2. The number of shares of preferred stock outstanding was _____ .
3. The average sale price of the preferred stock when issued was $ _____ per share.
4. Have the treasury stock transactions ( a ) increased corporate resources or ( b ) decreased resources? _____ By how much? _____ .
5. The treasury stock transactions increased (decreased) stockholders’ equity by _____ .
6. How much did the treasury stock held cost per share? $ _____ .
7. Total stockholders’ equity is $ _____ .
8. The average issue price of the common stock was $ _____.


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  • CreatedJuly 01, 2014
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