The following items were shown on the balance sheet of Martin Corporation on December 31, 2012: Stockholders'

Question:

The following items were shown on the balance sheet of Martin Corporation on December 31, 2012:

Stockholders' Equity Paid-In Capital Stock Common stock, $5 par value, .............500,000

Shares authorized; ______ shares issued and ______ outstanding ....................$2,000,000

Additional paid-in capital In excess of par value ....................................................120,000

Total paid in capital ..............................................................................................2,120,000

Retained Earnings ....................................................................................................500,000

Total paid-in capital and retained earnings ...........................................................2,120,000

Less: Treasury stock (20,000 shares) ................................................................... (240,000)

Total stockholders' equity ...................................................................................$1,880,000

Instructions

Complete the following statements and show your computations.

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

(b) The number of shares of common stock outstanding was ____________.

(d) How much did the treasury stock cost per share? $_______________

Common Stock
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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... Corporation
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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,...