Required: Determine the following items based on Eldon's balance sheet. Round all calculations except per-share amounts to the nearest whole number; round per-share amounts to the nearest cent. The par value of the common stock $? per share Preferred stock, $50 par value, 5,000 $275,000sharesauthorized,? shares issuedCommon stock, ? par, 10,000 sharesauthorized,8,000 shares issuedAdditional paid-in capital-PreferredAdditional paid-in capital-CommonAdditional paid-in capital-Treasurystock80,0008,800480,0001,600Total contributed capitalRetained earnings43,000Treasury stock, preferred, 200 shares (6,800)Total stockholders' equity$845,400$?

The par value of shares is the price mentioned on share bond. The shares can be issued at premium…

Answered: The par value of the common stock $?…

Business

Accounting

The par value of the common stock $? per share

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Required: Determine the following items based on Eldon's balance sheet. Round all calculations except per-share amounts to the nearest whole number; round per-share amounts to the nearest cent. The par value of the common stock $? per share

Preferred stock, $50 par value, 5,000 $275,000
shares
authorized,? shares issued
Common stock, ? par, 10,000 shares
authorized,
8,000 shares issued
Additional paid-in capital-Preferred
Additional paid-in capital-Common
Additional paid-in capital-Treasury
stock
80,000
8,800
480,000
1,600
Total contributed capital
Retained earnings
43,000
Treasury stock, preferred, 200 shares (6,800)
Total stockholders' equity
$845,400
$?

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