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The Quiet Canyon Hotel & Spa provides the following information on the shareholders' equity from its...

The Quiet Canyon Hotel & Spa provides the following information on the shareholders' equity from its balance sheet:
7% Preferred stock, $50 par, callable at $57
30,000 shares authorized and 25,000 shares issued $1,425,000
Common stock, $7 par value
1,500,000 shares authorized, 1,000,000 shares issued ?
Additional paid-in capital--Common stock 12,000,000
Retained earnings 9,000,000
Based on this information, the total amount of the stockholders' equity is equal to:

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Ans. Calculation of Total amt stockholder equity

Common stock issued 1000000 @$7 each       = 7000000

Addional paid in capital/premium                     = 12000000

Retained earning                                           = 9000000

Equity holder fund                                      = $28000000

Add: 7% Peference share (25000X50)          = $1250000

Total shareholder fund                               = $29250000

ekkarill92 answered 1 year ago
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