Question
In: Accounting
Required information [The following information applies to the questions displayed below.] Raphael Corporation’s common stock is...
Required information
[The following information applies to the questions
displayed below.]
Raphael Corporation’s common stock is currently selling on a stock
exchange at $159 per share, and its current balance sheet shows the
following stockholders’ equity section:
| Preferred stock—5% cumulative,
$___ par value, 1,000 shares authorized, issued, and outstanding |
$ | 50,000 |
| Common stock—$___ par value,
4,000 shares authorized, issued, and outstanding |
200,000 | |
| Retained earnings | 330,000 | |
| Total stockholders' equity | $ | 580,000 |
3. If no dividends are in arrears, what is the
book value per share of common stock?
Required information
[The following information applies to the questions
displayed below.]
Raphael Corporation’s common stock is currently selling on a stock
exchange at $159 per share, and its current balance sheet shows the
following stockholders’ equity section:
| Preferred stock—5% cumulative,
$___ par value, 1,000 shares authorized, issued, and outstanding |
$ | 50,000 |
| Common stock—$___ par value,
4,000 shares authorized, issued, and outstanding |
200,000 | |
| Retained earnings | 330,000 | |
| Total stockholders' equity | $ | 580,000 |
3. If no dividends are in arrears, what is the
book value per share of common stock?
Required information
[The following information applies to the questions
displayed below.]
Raphael Corporation’s common stock is currently selling on a stock
exchange at $159 per share, and its current balance sheet shows the
following stockholders’ equity section:
| Preferred stock—5% cumulative,
$___ par value, 1,000 shares authorized, issued, and outstanding |
$ | 50,000 |
| Common stock—$___ par value,
4,000 shares authorized, issued, and outstanding |
200,000 | |
| Retained earnings | 330,000 | |
| Total stockholders' equity | $ | 580,000 |
3. If no dividends are in arrears, what is the
book value per share of common stock?
Solutions
Expert Solution
| 3) | book value per Preferred share | |||||||||||||
| Choose Numerator | / | Choose Denominator | = | Book value per common share | ||||||||||
| stockholders equity applicable to PS | / | Number of PS outstanding | = | Book value per common share | ||||||||||
| 50,000 | / | 1,000 | = | 50 | ||||||||||
| book value per common share | ||||||||||||||
| Choose Numerator | / | Choose Denominator | = | Book value per common share | ||||||||||
| stockholders equity applicable to CS | / | Number of CS outstanding | = | Book value per common share | ||||||||||
| 530,000 | / | 4,000 | = | 132.5 | ||||||||||
| Explanation: | common stock | |||||||||||||
| Book value of preferred stock= | par value | (when not callable) | Total Equity | (CS +RE) | 580,000 | |||||||||
| less Equity for preferred | -50,000 | |||||||||||||
| common stock Equity | 530,000 | |||||||||||||
| number of oustanding shares | 4,000 | |||||||||||||
| book value per common share | 132.5 | |||||||||||||
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