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  • Oct 5, 2011, 02:42 PM
    brittanif
    Accounting help!
    The following are selected accounts and balances from the records of Furry Corporation on June 30, 2007.

    Common Stock, 75,000 shares authorized, 50,000 shares issued... $500,000

    Paid-in Capital in Excess of Par Value-Common Stock... $150,000

    Preferred Stock, $100 par value, 8%, 10,000 shares authorized... $300,000

    Retained Earnings... $250,000

    Treasury Stock (10,000 common shares)... $150,000

    Paid-in Capital in Excess of Par Value-Preferred Stock... $30,000


    A. What is the par value per share of Common Stock?

    B. How many shares of Common Stock are outstanding?

    C. How many shares of Preferred Stock are issued?

    D. What was the average issuance price of Common Stock?

    E. What was the average purchase price of Common Stock held for the treasury?

    F. What is the total value of Paid-in Capital?

    G. What is the total value of Stockholders? Equity?

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