ACCT 2121 SPRING 2019 (HUNTER) CHAPTER 11 IN-CLASS AND HOMEWORK EXERCISES 19. HW11N13: Martin Corporation Partial Balance Sheet at December 31, 2018 Stockholders' Equity Paid-in Capital Common Stock, $5 par value, 750,00 shares authorized;_?___shares issued and_ ? shares outstanding $ 3,000,000 Additional Paid-in Capital In excess of par value 180,000 Total Pald-in Capital S 3,180,000 Retained Earnings $ 500,000 Total Pald-in Capital and Retained Earnings $ ? Less: Treasury Stock (20,000 shares) $ 280,000 Total Stockholders' Equity $ ? INSTRUCTIONS: ANSWER THE FOLLOWING QUESTIONS ANSWERS 1. How many shares of common stock are issued? 2. How many shares of common stock are outstanding? 3. What was the total price per share of common stock when issued? 4. How much did the treasury stock cost per share? 5. What is the Total Paid-in Capital and Retained Earnings? 6. What is the Total Stockholders' Equity? 14. EX11#14: - PREFERRED STOCK: In its first year of operations, Martinez Corporation had the following transactions pertaining to its $10 par value preferred stock. Martinez Corporation has a December 31 fiscal year end. Feb. July 1 1 Issued 8,000 shares for cash at $24 per share. Issued 6,000 shares for cash at $25 per share. Instructions (a) Journalize the transactions. Feb 1 Dr. Cash Cr. Preferred Stock S Cr. Paid-in capital in excess of par value Preferred Stocks Jul 1 Dr. Cash S Cr. Preferred Stocks Cr. Paid-in capital in excess of par value Preferred Stock S (b) Indicate the total amount to be reported on the Balance Sheet at December 31 for (1) Preferred Stocks (2) Paid-in capital in excess of par value preferred stock $ HW11:15 Total stockholders' equity is $150,000. If the common stock account has a balance of STUUUU, paid in capital in excess of par value common stock is $5,000, beginning Retained Earnings of $70,000, Net Income $30,000, and no dividends. What is the amount of Preferred Stock? A) $15,000 B) $25,000 C) $45,000 D) $35,000