Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the stockholders' equity section on the balance sh

The stockholders' equity section on the balance sheet of Mangum's, a popular department store, is...

90.2K

Verified Solution

Question

Accounting

The stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown below. During the year, the company reported net income of $241,075,000 and declared and paid dividends of $11,914,000.

Stockholders Equity : Current Year Last Year
Common stock, Class A116,580,308 and 116,465,495 shares issued; ? and ? shares outstanding 1,166,000 1,165,000
Common stock, Class B (convertible)4,030,929 shares issued and outstanding 40,000 40,000
Additional paid-in capital 772,055,000 782,987,000
Retained earnings 2,497,727,000 ?
Less treasury stock, at cost, Class A47,116,748 and 45,340,148 shares (1,892,581,000 ) (943,560,000 )

image

image

Required: 1. What amount was reported in the Common Stock (Class A) account at the end of the current year? Round your answer to nearest whole number.) mmon stock at par value $ 2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? Last year Current year Number of shares ed in the Retained Earnings acc etained earnings

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

Finance
1.2K views

Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement   Sales $ 43,200   Costs 34,000   Taxable income $ 9,200   Taxes (24%) 2,208   Net income $ 6,992      Dividends $ 2,700      Addition...

Finance
1.2K views

The Warren Watch Company sells watches for $21, fixed costs are $145,000, and variable costs are...

Calculus
1.2K views

a Find the slope of the tangent to the curve y 2 x at the...

Algebra
1.2K views

One pan pizza and two beef burritos provide 3950 calories Two pan pizzas and one...

Accounting
1.2K views

Exercise 3-14 Computing Predetermined Overhead Rates and Job Costs [LO3-1, LO3-2, LO3-3, LO3-7] ...

Accounting
1.2K views

Darius, an unmarried individual, lived with his 15 year old daughter, Jackie, during all of...

Accounting
1.2K views

Payment of Duty and Duty-Related Carrying Cost Liston, Inc., owns a factory located close to,...

Accounting
1.2K views

The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the...

Accounting
1.2K views

Which of the following is always considered part of GDP? A. incomplete goods...

Accounting
1.2K views

Cambridge Company purchased a truck on January 1, 2018. Cambridge paid $16,000 for the truck....

Finance
1.2K views

8.15 Ganado'nun apraz Dviz Swap: Avro iin Yen. Blmdeki (Grsel 8.13) takas oranlar tablosunu kullann...

Finance
1.2K views

Note: Where applicable, use the present value tables provided in APPENDICES 1 and 2 that...