skip to Main Content
The smarter way
to do assignments.

Please note that this is just a preview of a school assignment posted on our website by one of our clients. If you need assistance with this question too, please click on the Order button at the bottom of the page to get started.

Exercise 11-4

 

 

 

 

Your answer is correct.

 

 

The stockholders’ equity section of Traylor Corporation’s
balance sheet at December 31 is presented here.

TRAYLOR CORPORATION
Balance Sheet (partial)

Stockholders’ equity

 
 
 

   Paid-in capital

 
 
 

      Preferred stock,
cumulative, 11,167 shares
authorized, 6,700 shares issued and outstanding

 

$ 676,700

 

      Common stock, no
par, 714,957 shares authorized, 552,900 shares
issued

 

2,764,500

 

   Total paid-in capital

 

3,441,200

 

   Retained earnings

 

1,197,600

 

   Total paid-in capital and retained
earnings

 

4,638,800

 

   Less: Treasury stock (6,540 common
shares)

 

(34,880

)

Total stockholders’ equity

 

$4,603,920

 

From a review of the stockholders’ equity section, answer the
following questions.

(a) How many shares of common stock are outstanding?

Common stock outstanding

 

 shares

(b) Assuming there is a stated value, what is the stated value of
the common stock?

The stated value of the common stock

 

$ per share

(c) What is the par value of the preferred stock?

The par value of the preferred stock

 

$ per share

(d) If the annual dividend on preferred stock is $54,136, what is
the dividend rate on preferred stock?

The dividend rate

 

 %

(e) If dividends of $78,800 were in arrears on preferred
stock, what would be the balance reported for retained
earnings?

The Retained Earnings balance

 

$

 

GET HELP WITH THIS ASSIGNMENT TODAY

Clicking on this button will take you to our custom assignment page. Here you can fill out all the additional details for this particular paper (grading rubric, academic style, number of sources etc), after which your paper will get assigned to a course-specific writer. If you have any issues/concerns, please don’t hesitate to contact our live support team or email us right away.

How It Works        |        About Us       |       Contact Us

© 2018 | Intelli Essays Homework Service®

Back To Top