Reference no: EM132592272

The stockholders' equity of All-Pro Uniforms as of December 31, 2018 and 2017, follows:

Requirements and data sheet below :

Question 1: What is the par value of the common stock?

Question 2: How many shares of common stock were outstanding at the end of 2018?

Question 3: As of December 31, 2018, what was the average price that stockholders paid for all common stock when issued?

Question 4: What is the summary journal entry to record the change in common stock during the year.

Question 5: What was the average price that stockholders paid for the common stock issued in 2018?

Question 6: What was the average price paid by All-Pro Uniforms for the treasury stock at December 31, 2018?

Question 7: What is the summary journal entry to record the change in treasury stock during the year.

Question 8: Assuming net income for 2018 was $9,000,000, summary journal entry to record the dividends declared during 2018.

Data Sheet:                                                                               2018                   2017

Common stock, 1,800,000 shares authorized,

900,000 and 700,000 shares issued, respectively             $315,000         $245,000

Paid-in capital in excess of par                                      40,275,000       32,225,000

Paid-in capital-treasury stock transactions                           55,000             50,000

Retained Earnings                                                             71,075,000    65,000,000

Treasury stock, at cost, 55,000 and 60,000 shares, respectively (2,068,000) (2,256,000)

Total Stockholders' equity                                              109,652,000         95,264,000