Callman Corp has the following stockholders equity information Callmans charter authorizes the company to issue 10,000 shares of 6 preferred stock with par value of $90 and 750,000 shares of no par common stock The company issued 2,000 shares of the preferred stock at $90 per share It issued 75,000...

Callman Corp Balance Sheet partial December 31 2012 Stockholders equity Prefe ...

Callman Corp. has the following stockholders equity information: Callmans charter authorizes the company to issue 10,000 shares

Question:

Callman Corp. has the following stockholders’ equity information:
Callman’s charter authorizes the company to issue 10,000 shares of 6% preferred stock with of $90 and 750,000 shares of no-par . The company issued 2,000 shares of the preferred stock at $90 per share. It issued 75,000 shares of the for a total of $517,000. The company’s retained earnings balance at the beginning of 2012 was $78,000, and net income for the year was $95,000. During 2012, Callman declared the specified on preferred and a $0.90 per-share on common. Preferred dividends for 2011 were in arrears.

Requirement
Prepare the stockholders’ equity section of Callman Corp.’s at December 31, 2012. Show the computation of all amounts. Journal entries are not required.

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,...