Question

The following items were shown on the balance sheet of Windsor, Inc. on December 31, 2020:...

The following items were shown on the balance sheet of Windsor, Inc. on December 31, 2020:

Stockholders’ Equity

Paid-In Capital

Capital Stock

Common stock, $5 par value, 800,000 shares
authorized; ______ shares issued and ______ outstanding

$3,000,000

Additional paid-in capital

In excess of par value

192,000

Total paid in capital

3,192,000

Retained Earnings

600,000

Total paid-in capital and retained earnings

3,792,000

Less: Treasury stock (26,000 shares)

260,000

Total stockholders’ equity

$3,532,000


Complete the following statements.

(a)

The number of shares of common stock issued was

enter a number of shares shares

(b)

The number of shares of common stock outstanding was

enter a number of shares shares

(c)

The total sales price of the common stock when issued was

$enter a dollar amount

(d)

How much did the treasury stock cost per share?

$enter a dollar amount per share per share

(e)

What was the average issue price of the common stock? (Round to 2 decimal places, e.g. 5.25)

$enter a dollar amount per share per share

Homework Answers

Answer #1

--Requirement

(a) The number of shares of common stock issued was                            600,000 shares [$3000000 / $ 5 par]
(b) The number of shares of common stock outstanding was                            574,000 shares [600000 shares - 26000 shares]
(c) The total sales price of the common stock when issued was $3,192,000
(d) How much did the treasury stock cost per share? $10.00 [$260000 / 26000 shares]
(e) What was the average issue price of the common stock? (Round to 2 decimal places, e.g. 5.25) $5.32 per share [$3192000 / 600000 shares
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