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    YvonneOzanne's Avatar
    YvonneOzanne Posts: 11, Reputation: 1
    New Member
    		  
    #1

    Jan 7, 2013, 06:50 PM
    Check my answers, please!
    19X6 19X5
    Preferred stock, $100 par value, 10% $580,000 $500,000
    Common stock, $10 par value 2,350,000 1,750,000

    Paid-in capital in excess of par value
    Preferred 24,000 —
    Common 4,620,000 3,600,000
    Retained earnings 8,470,000 6,920,000
    Total stockholders' equity $16,044,000 $12,770,000

    a. Compute the number of preferred shares that were issued during 19X6.
    5,800
    b. Calculate the average issue price of the common stock sold in 19X6.
    235,000
    c. By what amount did the company's paid-in capital increase during 19X6? Preferred increased in the amount of $24,000, while common increased in the amount of $1,020,000 in 19X6.
    d. Did Star's total legal capital increase or decrease during 19X6? By what amount?
    I am almost sure I have a and c correct. I am confused on answer b, and have no idea for answer d.
    Any help is appreciated.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #2

    Jan 8, 2013, 07:21 PM
    I think a course in basic mathematics is called for
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