Reference no: EM132607444
Question - "ABC" Company has the following balances in shareholders' equity on December 31st, 2019.
Share Capital-Preference Shares -$125 par $4,375,000
Share Capital-Ordinary Shares -$15 par $1,425,000
Share Premium-Preference Shares $200,000
Share Premium-Ordinary Shares $530,000
Retained earnings $297,000
Treasury stock (cost -$13 per share) $156,000
1- How many shares of preference shares were issued?
2- How many shares of ordinary shares were issued?
3- How many shares of treasury stock are owned?
4- How many shares of ordinary shares are outstanding?
5- What was the average market price per share at which ordinary share was issued?
6- What was the average market price per share at which preference share was issued?
7- What is the total value of shareholders' equity?
8- If net income for the year was $75,000 and a preferred stock dividend of $20,000 was paid, what was the beginning value of retained earnings?
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