Solution-The paid in capital in excess of par value on the

The paid in capital in excess of par value on the preferred

Reference no: EM131132039

1. Connolly Corporation has issued 100,000 shares of $5 par value common stock. It authorized 500,000 shares. The paid-in capital in excess of par value on the common stock is $240,000. The corporation has reacquired 7,000 shares at a cost of $46,000 and is currently holding those shares. Treasury stock was reissued in prior years for $47,000 more than its cost. The corporation also has 2,000 shares issued and outstanding of 7%, $100 par-value preferred stock. It authorized 10,000 shares. The paid-in capital in excess of par value on the preferred stock is $23,000. Retained earning is $372,000. Prepare the stockholders' equity section of the balance sheet.

Reference no: EM131132039

Questions Cloud

Define importance of master budget to success of hr function : Comment on why each budget piece must be created in that specific order. For example, why does the sales budget have to come before the production budget?

Why does an increase in the ratio of current assets to total : Why does an increase in the ratio of current assets to total assets decrease both profits and risk as measured by net working capital? How do changes in the ratio of current liabilities to total assets affect profitability and risk?

Analyze differences between type of threat and vulnerability : Analyze the major differences between the types of threats and vulnerabilities that exist between personal use and business use of the Internet.

What is net working capital : Why is short-term financial management one of the most important and time-consuming activities of the financial manager? What is net working capital?

The paid in capital in excess of par value on the preferred : Connolly Corporation has issued 100,000 shares of $5 par value common stock. It authorized 500,000 shares. The paid-in capital in excess of par value on the common stock is $240,000.

What problem might occur with the full implementation of rfi : What problem might occur with the full implementation of RFID) technology in retail industries? Specifically, consider the amount of data chat might be collected.

Identify how to sustain good performance levels : Prepare two development plans (one for the mailroom specialist who accepted the package and one for the administrative assistant who delivered it to the mailroom). Ensure that each employee development plan is in line with the direction of the com..

Implement the algorithm for count : Describe a most efficient algorithm to implement the algorithm for count(x, y). Derive the time complexity for your algorithm.

Describe a most efficient algorithm to remove all duplicate : You are given an unsorted list containing integer values with duplicates. Describe a most efficient algorithm to remove all duplicates from this list. Derive the time complexity (Big O) for your algorithm.

User Account

All Pages

The paid in capital in excess of par value on the preferred

Reference no: EM131132039

Reference no: EM131132039

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Palmer corporation issued and has outstanding 20000 shares

Determine the amount of retained earnings

Prepare a memo to susan apple

What effect do stock dividends or stock splits have on the

Calculate firm js margin turnover and return

You are a management analyst for xyz aircraft manufacturing

Copa company a manufacturer of stereo systems started its

Merchandise with an invoice price of 2000 was purchased on

Differences between the 2012 income statement and tax return

The following sales are predicted for a companys next four

Determining four accounting regulatory bodies

What may have led to the breakdown of internal controls

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT