Question

Vaughn Corporation began business in 2020 by issuing 88000 shares of $5 par common stock for...

Vaughn Corporation began business in 2020 by issuing 88000 shares of $5 par common stock for $9 per share and 17000 shares of 9%, $10 par preferred stock for par. At year end, the common stock had a market value of $10. On its December 31, 2020 balance sheet, Vaughn would report

Paid-In Capital of $655000.

Common Stock of $880000.

Common Stock of $440000.

Common Stock of $792000.
Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Makoto Corporation has 9,500 shares of $100 par value, 8%, preferred stock and 45,600 shares of...
Makoto Corporation has 9,500 shares of $100 par value, 8%, preferred stock and 45,600 shares of $10 par value common stock outstanding at December 31, 2020. Answer the questions in each of the following independent situations. (a) If the preferred stock is cumulative and dividends were last paid on the preferred stock on December 31, 2017, what are the dividends in arrears on December 31, 2020, balance sheet? The amount of dividends in arrears on the December 31, 2020 $...
1. Coronado Corporation’s December 31, 2020 balance sheet showed the following: 7% preferred stock, $20 par...
1. Coronado Corporation’s December 31, 2020 balance sheet showed the following: 7% preferred stock, $20 par value, cumulative, 15300 shares authorized; 5300 shares issued. $ 106000 Common stock, $10 par value, 1090000 shares authorized; 1040000 shares issued, 1010000 shares outstanding. 10400000 Paid-in capital in excess of par—preferred stock. 29000 Paid-in capital in excess of par—common stock. 11590000 Retained earnings. 3790000 Treasury stock (14800 shares). 310800 Coronado’s total paid-in capital was: a. $21814200. b. $22125000. c. $12175000. d. $22435800. 2. Swifty...
Beauty Island Corporation began operations on April 1 by issuing 60,000 shares of $5 par value...
Beauty Island Corporation began operations on April 1 by issuing 60,000 shares of $5 par value common stock for cash at $13 per share. On April 19, it issued 2,000 shares of common stock to attorneys in settlement of their bill of $27,500 for orga- nization costs. In addition, Beauty Island issued 1,000 shares of $1 par value preferred stock for $6 cash per share. Journalize the issuance of the common and preferred shares, assuming the shares are not publicly...
On January 1, 2020, Moving Company had 1,000,000 shares of $ 1 par value common stock,...
On January 1, 2020, Moving Company had 1,000,000 shares of $ 1 par value common stock, and 100,000 shares of $ 100 par value, 6% preferred stock outstanding. (The preferred stock is NOT convertible into common stock) On July 1, 2020, Moving Company issued an additional 400,000 shares of common stock, receiving $ 20 per share. No additonal share transactions were made during the year, and thus on December 31, 2020,Moving Company had 1,400000 shares of Common Stock, and 100,0000...
Ayayai Corporation has 8,200 shares of $100 par value, 8%, preferred stock and 47,000 shares of...
Ayayai Corporation has 8,200 shares of $100 par value, 8%, preferred stock and 47,000 shares of $10 par value common stock outstanding at December 31, 2020. Answer the questions in each of the following independent situations. (a) If the preferred stock is cumulative and dividends were last paid on the preferred stock on December 31, 2017, what are the dividends in arrears on December 31, 2020, balance sheet? The amount of dividends in arrears on the December 31, 2020 $...
Newly formed S&J Iron Corporation has 191,000 shares of $3 par common stock authorized. On March...
Newly formed S&J Iron Corporation has 191,000 shares of $3 par common stock authorized. On March 1, Year 1, S&J Iron issued 10,500 shares of the stock for $10 per share. On May 2, the company issued an additional 24,000 shares for $19 per share. S&J Iron was not affected by other events during Year 1. Required a. Record the transactions in a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating...
1 ridgeport Corporation has 8,200 shares of $100 par value, 8%, preferred stock and 47,000 shares...
1 ridgeport Corporation has 8,200 shares of $100 par value, 8%, preferred stock and 47,000 shares of $10 par value common stock outstanding at December 31, 2020. Answer the questions in each of the following independent situations. (a) If the preferred stock is cumulative and dividends were last paid on the preferred stock on December 31, 2017, what are the dividends in arrears on December 31, 2020, balance sheet? The amount of dividends in arrears on the December 31, 2020...
Presented below if the stockholders’ equity section of Blue Corporation at December 31, 2020: Common stock,...
Presented below if the stockholders’ equity section of Blue Corporation at December 31, 2020: Common stock, par value $20; authorized 75,000 shares; issued and outstanding 45,000 shares $900,000 Paid-in-capital in excess of par value 350,000 Retained earnings 500,000 During 2021, the following transactions occurred related to stockholder’ equity: 3,000 shares were reacquired at $28 per share. 3,000 shares were reacquired at $35 per share. 3,200 shares of treasury stock were sold at $30 per share. For the year ended December...
On December 31, 2016, Crane Company had 1,315,000 shares of $6 par common stock issued and...
On December 31, 2016, Crane Company had 1,315,000 shares of $6 par common stock issued and outstanding. At December 31, 2016, stockholders’ equity had the amounts listed here. Common Stock $7,890,000 Additional Paid-in Capital 1,905,000 Retained Earnings 1,210,000 Transactions during 2017 and other information related to stockholders’ equity accounts were as follows. 1. On January 10, 2017, issued at $114 per share 130,000 shares of $104 par value, 7% cumulative preferred stock. 2. On February 8, 2017, reacquired 10,400 shares...
Oriole Corporation's December 31, 2020 balance sheet showed the following: 6% preferred stock, $10 par value,...
Oriole Corporation's December 31, 2020 balance sheet showed the following: 6% preferred stock, $10 par value, cumulative,      35000 shares authorized; 24000 shares issued $ 240000 Common stock, $10 par value, 3,000,000 shares authorized;      1,950,000 shares issued, 1,920,000 shares outstanding 19500000 Paid-in capital in excess of par value - preferred stock 73000 Paid-in capital in excess of par value - common stock 27900000 Retained earnings 9450000 Treasury stock (30,000 shares) 748000 Oriole's total paid-in capital was $27813000. $47713000. $48461000. $46965000.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT