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    anthoney71701's Avatar
    anthoney71701 Posts: 2, Reputation: 1
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    #1

    Jan 15, 2014, 08:22 PM
    Half of the preferred stock was issued at a price of $103 per share, and 75,000 share
    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's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

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