Following is the stockholders' equity section from Public Storage's 2018 balance sheet. (in thousands, except share...
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Following is the stockholders' equity section from Public Storage's 2018 balance sheet. (in thousands, except share data) December 31, 2018 Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 161,000 shares issued and outstanding. Common Shares, $0.10 par value, 650,000,000 shares authorizéd, 174,130,881 shares issued and outstanding Paid-in capital. Accumulated deficit Accumulated other comprehensive loss. $4,025,000 17,413 5,718,485 (577,360) (64,060) Total Public Storage shareholders' equity Noncontrolling interests Total equity. 9,119,478 25,250 $9,144,728 a. Show the computation to derive the $17,413 thousand for common stock. b. At what average price has Public Storage issued its common stock? e. At what average price has the company issued its preferred shares? d. The company reports Accumulated deficit of $(577,360), What would this account be called if the balance was positive rather than negative? e. Public Storage has reported more than $1 billion in net income in each of the past five years. Given this, what are two plausible reasons for the accumulated deficit? Applying New Lease Accounting Standards for Operating Leases On January 1 of the current year, CCH Corporation entered into the following lease contract. Based on the facts, CCH Corporation classifies the lease as an operating lease. The company has a 5% cost of debt capital. 8 Leased asset: Office space. Lease term: 5 years. Annual lease payment: $115,487 due at each year-end. Upfront fees: $10,000 paid in cash. Required DO a. Explain how the facts support the classification of the lease as an operating lease. Caoitalize the Lease c. What amount will be added to the balanee sheet as an asset? What will CCH Corporation call the b. Determine the amount of the lease liability that CCH will add to its balance sheet at the inception A thre of the lease. asset on the balance sheet? d. Prepare a lease amortization schedule that shows the interest and principal portions of each lease payment. th S years Following is the stockholders' equity section from Public Storage's 2018 balance sheet. (in thousands, except share data) December 31, 2018 Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 161,000 shares issued and outstanding. Common Shares, $0.10 par value, 650,000,000 shares authorizéd, 174,130,881 shares issued and outstanding Paid-in capital. Accumulated deficit Accumulated other comprehensive loss. $4,025,000 17,413 5,718,485 (577,360) (64,060) Total Public Storage shareholders' equity Noncontrolling interests Total equity. 9,119,478 25,250 $9,144,728 a. Show the computation to derive the $17,413 thousand for common stock. b. At what average price has Public Storage issued its common stock? e. At what average price has the company issued its preferred shares? d. The company reports Accumulated deficit of $(577,360), What would this account be called if the balance was positive rather than negative? e. Public Storage has reported more than $1 billion in net income in each of the past five years. Given this, what are two plausible reasons for the accumulated deficit? Applying New Lease Accounting Standards for Operating Leases On January 1 of the current year, CCH Corporation entered into the following lease contract. Based on the facts, CCH Corporation classifies the lease as an operating lease. The company has a 5% cost of debt capital. 8 Leased asset: Office space. Lease term: 5 years. Annual lease payment: $115,487 due at each year-end. Upfront fees: $10,000 paid in cash. Required DO a. Explain how the facts support the classification of the lease as an operating lease. Caoitalize the Lease c. What amount will be added to the balanee sheet as an asset? What will CCH Corporation call the b. Determine the amount of the lease liability that CCH will add to its balance sheet at the inception A thre of the lease. asset on the balance sheet? d. Prepare a lease amortization schedule that shows the interest and principal portions of each lease payment. th S years
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a 174130881 shares x 010 per share rounded down to 17413 ... View the full answer
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