Marvinu2019s music company was incorporated as a new

Reference no: EM13578116

Marvin%u2019s Music Company was incorporated as a new business on January 1, 2012. The company is authorized to issue 40,000 shares of $1 par value common stock, and 10,000 shares of 4%, $5 par value, preferred stock. On January 1, 2012 the company issued 15,000 shares of common stock for $8 per share and all of the preferred stock at par value. There were no other stock sales during 2012.

REQUIRED:

1. How many shares of common stock are outstanding?

2. What amount would Marvin show on its Dec. 31, 2012, balance sheet as Common Stock?

3. What amount would Marvin show on its Dec. 31, 2012, balance sheet as Preferred Stock?

4. What amount would Marvin show on its Dec. 31, 2012, balance sheet as Additional Paid In Capital?

5. How much would Marvin pay in preferred stock dividends for 2012?

Reference no: EM13578116

Questions Cloud

The building and equipment are estimated to cost 1200000 : thurman munster the owner of adams family rvs is considering the addition of a service center his lot. the building and

The general ledger of the karlin company a consulting : the general ledger of the karlin company a consulting company at january 1 2011 contained the following account

Warren and spencer are partners in a drilling : warren and spencer are partners in a drilling operation.warren purchased a drilling rig to be used in the partnerships

The standards for direct labor for a product are 6 hours at : the standards for direct labor for a product are 6 hours at 5 per hour. last month 9300 units of the product were made

Marvinu2019s music company was incorporated as a new : marvinu2019s music company was incorporated as a new business on january 1 2012. the company is authorized to issue

The landers corporation needs to raise 160 million of debt : the landers corporation needs to raise 1.60 million of debt on a 20-year issue. if it places the bonds privately the

California co issued 200 bonds at a stated rate of 6 : california co. issued 200 bonds at a stated rate of 6 interest with a principal amount of 1000. the bonds are dated

Prepare a cash budget for the month assume the percentage : you would like to start a business manufacturing a unique model of bicycle helmet. in preparation for an interview with

Nestle company paid 130000 for a machine used to mill oats : nestle company paid 130000 for a machine used to mill oats. the annual contribution margin from boat sales is 60000.

User Account

All Pages