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View Full Version : Half of the preferred stock was issued at a price of $103 per share, and 75,000 share


anthoney71701
Jan 15, 2014, 08:22 PM
When Resisto Systems, Inc. was formed, the company was authorized to issue 5,000 shares of $100 par value, 8 percent cumulative preferred stock, and 100,000 shares of $2 stated value common stock.
Half of the preferred stock was issued at a price of $103 per share, and 75,000 shares of the common stock were sold for $15 per share. At the end of the current year, Resisto has retained earnings of $382,000.

Prepare a stockholder's equity section on the company's balance sheet:

Cumulative preferred stock: ?
Common stock: ?
Additional
Preferred stock: ?
Common stock: ?
Total paid-in capital: ?
Retained earnings: $382,000
Total stockholder's equity: ?

paraclete
Jan 15, 2014, 10:46 PM
shouldn't be difficult for you to calculate the share premiums and the amounts of capital contributed