Solution-What is the par value of the common stock

What is the par value of the common stock

Assignment Help Accounting Basics

Reference no: EM132450191

Problem - For a recent 2-year period, the balance sheet of Sarasota Company showed the following stockholders' equity data at December 31 (in millions).

	2017	2016
Additional paid-in capital	$ 980	$ 827
Common stock	657	651
Retained earnings	7,250	5,320
Treasury stock	1,672	864
Total stockholders' equity	$7,215	$5,934

Common stock shares issued	219	217
Common stock shares authorized	500	500
Treasury stock shares	38	27

Required -

(a) Answer the following questions.

(1) What is the par value of the common stock?

(2) What is the cost per share of treasury stock at December 31, 2017, and at December 31, 2016?

(b) Prepare the stockholders' equity section at December 31, 2017.

Reference no: EM132450191

Questions Cloud

Prepare the April and June entries for Tamarisk : Tamarisk Mining Company declared, on April 20, a dividend of $582,000 payable on June 1. Prepare the April 20 and June 1 entries for Tamarisk

Argument against the environmental cost tax : Consider the arguments regarding the proposed environmental tax, then make. A similar argument against the environmental cost tax

What important component of the ecosystem food web : What important component of the ecosystem food web is found at every level? What role do these organisms play?

How are you going to conclude the activity : Describe the key concepts you have selected for the learning activity plan and how they are intended to be taught and learned in your planned learning activity

What is the par value of the common stock : What is the par value of the common stock? What is the cost per share of treasury stock at December 31, 2017, and at December 31, 2016

Project management processes and methodologies : Define and describe what you thought was worthy of your understanding in half page, how important it is in project management processes and methodologies.

Describe the patterns in grain trades : Describe the patterns in grain trades between different world regions over the past 70 years. How do the food crisis of 2006-2008 and foot shortages

Convection to the atmosphere of the southern hemisphere : What size does a particle have to be if it is to have a roughly 50% chance of passing to the atmosphere of the southern hemisphere after being emitted

How public services to be provided by private or non-profit : Over the last 20 to 25 years, one "business approach" is the notion of government contracting specific public services to be provided by private or non-profit

User Account

All Pages

What is the par value of the common stock

Reference no: EM132450191

Reference no: EM132450191

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT