The stockholders' equity section of the balance sheet for Alaska Outfitters' at December 31,2X03 follows:
$$\begin{array} { l l }
\text { Common stock, \$2 par, 25,060 shares authorized } & \$ 20,000 \
\text { Additional paid-in capital } & 10,000 \
\text { Retained earnings } & \underline { \text { 80,000 } } \
\text { Total contributed capital and retained earnings } & 110,000 \
\text { Less: Treasury stock, } 1,000 \text { sharesat cost } & 10,000 \
\text { Total stockholders' equity } & ?
\end{array}$$ 1.________ How many shares of common stock are issued?
2.________ How many shares of common stock are outstanding?
3.________ How many shares of common stock will receive dividends if dividends are declared?
4.________ What is the cost of the treasury stock per share?
5.________ What is the value of total stockholders equity?
6.________ Suppose Alaska Outfitters issues 10,000 additional shares of common stock and receives $50,000.What is the journal entry to record the additional issuance of stock?

Question

The stockholders' equity section of the balance sheet for Alaska Outfitters' at December 31,2X03 follows:
 $$\begin{array} { l l } 
\text { Common stock, \$2 par, 25,060 shares authorized } & \$ 20,000 \
\text { Additional paid-in capital } & 10,000 \
\text { Retained earnings } & \underline { \text { 80,000 } } \
\text { Total contributed capital and retained earnings } & 110,000 \
\text { Less: Treasury stock, } 1,000 \text { sharesat cost } & 10,000 \
\text { Total stockholders' equity } & ?
\end{array}$$ 1.________ How many shares of common stock are issued?
2.________ How many shares of common stock are outstanding?
3.________ How many shares of common stock will receive dividends if dividends are declared?
4.________ What is the cost of the treasury stock per share?
5.________ What is the value of total stockholders equity?
6.________ Suppose Alaska Outfitters issues 10,000 additional shares of common stock and receives $50,000.What is the journal entry to record the additional issuance of stock?

Quizplus · Accepted Answer

The Answer of The stockholders' equity section of the balance sheet for Alaska Outfitters' at December 31,2X03 follows:
 $$\begin{array} { l l } 
\text { Common stock, \$2 par, 25,060 shares authorized } & \$ 20,000 \
\text { Additional paid-in capital } & 10,000 \
\text { Retained earnings } & \underline { \text { 80,000 } } \
\text { Total contributed capital and retained earnings } & 110,000 \
\text { Less: Treasury stock, } 1,000 \text { sharesat cost } & 10,000 \
\text { Total stockholders' equity } & ?
\end{array}$$ 1.________ How many shares of common stock are issued?
2.________ How many shares of common stock are outstanding?
3.________ How many shares of common stock will receive dividends if dividends are declared?
4.________ What is the cost of the treasury stock per share?
5.________ What is the value of total stockholders equity?
6.________ Suppose Alaska Outfitters issues 10,000 additional shares of common stock and receives $50,000.What is the journal entry to record the additional issuance of stock?

The Stockholders' Equity Section of the Balance Sheet for Alaska