can someone answer this please??? 4% cumulative preferred stock, $80 par, 100, 000 shares...

70.2K

Verified Solution

Question

Accounting

image

can someone answer this please???

4% cumulative preferred stock, $80 par, 100, 000 shares authorized, 20,000 shares issued Common stock, $2.50 par, 1,000,000 shares authorized, 600, 000 shares issued (of which 8,000 are held in treasury) $1,600, 000 1,500, 000 Additional paid-in capital: preferred stock Additional paid-in capital: common stock 800, 000 900, 000 Treasury stock (8,000 common shares) Retained earnings (192, 000) 1,825, 000 The average issue price per share of the preferred stock was: Select one: a. $40. b. $80. c. $120. d. $160

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students