1. The following information was taken from the balance sheet of Herman

Corporation on December 31, 2013:

Preferred stock, 8%, $100 par value, . . . . . . . . $3,000,000

Common stock, $10 par value, 300,000 shares

authorized; __??__ shares issued and _??____

outstanding .................................. 1,600,000

Additional paid-in capital

In excess of par value-common................... 400,000

Retained Earnings .................................. 700,000

Treasury stock (6,000 shares)............... 150,000

INSTRUCTIONS

Complete the following statements and show your computations.

(a)The number of shares of common stock issued was _______________

(b)The total annual preferred stock dividend is_______________.

(c)The total Paid-In-Capital is_____________________.

(d) The number of shares of common stock outstanding was __________.

(e) The average sales price of the common stock per share when issued was $__________.

(f) The cost per share of the treasury stock was $_____________.

Answer rating: 100% (QA)

Answer 30000 8 Preferred Stock of 100 each 300000000 Com... View the full answer