Question: E11-7 (Algo) Finding Amounts Missing from the Stockholders' Equity Section [LO 11-2, LO 11-4] The stockholders' equity section on the December 31 balance sheet of

E11-7 (Algo) Finding Amounts Missing from the Stockholders' Equity Section [LO 11-2, LO 11-4] The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) $ 114,000 Additional Paid-In Capital, Preferred 17,100 Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,500 shares) 682,500 Retained Earnings 35,000 Treasury Stock, 1,000 Preferred shares at cost (9,750) Assume that no shares of treasury stock have been sold in the past.

  1. The number of shares of preferreded stock issued was .
  2. The number of shares of preferred stock outstanding was.
  3. The average issue price of the preferred stock was. (per share)
  4. The average issue price of the common stock was
  5. The treasury stock transaction increased(decreased) stockholders equity by
  6. The treasury stock cost (per share)
  7. Total stockholders equity is

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!