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Problem 8-23 Analyzing the Stockholders’ Equity Section of the Balance Sheet

Problem 8-23 Analyzing the Stockholders’ Equity Section of the Balance Sheet
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ACCOUNTING

Survey of Accounting
Second (2nd) Edition
Thomas Edmonds, Philip Olds, Frances McNair, Bor-Yi Tsay
ACC 201 ACC/201 Accounting 201

Problem 8-23 Analyzing the Stockholders’ Equity Section of the Balance Sheet

The stockholders’ equity section of the balance sheet for Atkins Company at December 31, 2011, is as follows:

AND SO ON


Note: The market value per share of the common stock is $25, and the market value per share of the preferred stock is $12.

Required

1. What is the par value per share of the preferred stock?
2. What is the dividend per share on the preferred stock?
3. What is the number of common stock shares outstanding?
4. What was the average issue price per share (price for which the stock was issued) of the common stock?
5. Explain the difference between the average issue price and the market price of the common stock.
6. If Atkins declared a 2-for-1 stock split on the common stock, how many shares would be outstanding after the split? What amount would be transferred from the retained earnings account because of the stock split? Theoretically, what would be the market price of the common stock immediately after the stock split?

Check:
a. Par Value per Share: $10
b. Dividend per Share $.60

 

FILE: MS WORD

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