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 | |||||||||||||
ekkarill92 answered 1 year agoRelated Solutions
Required information [The following information applies to the questions displayed below.] The following are the transactions...
Required information [The following information applies to the
questions displayed below.] The following are the transactions for
the month of July. Units Unit Cost Unit Selling Price July 1
Beginning Inventory 45 $ 10 July 13 Purchase 225 13 July 25 Sold
(100 ) $ 15 July 31 Ending Inventory 170 Calculate cost of goods
available for sale and ending inventory, then sales, cost of goods
sold, and gross profit, under LIFO. Assume a periodic inventory
system is used.
LIFO...
Required information [The following information applies to the questions displayed below.] The following are the transactions...
Required information
[The following information applies to the questions
displayed below.]
The following are the transactions for the month of July.
Units
Unit Cost
Unit Selling Price
July 1
Beginning Inventory
54
$
10
July 13
Purchase
270
12
July 25
Sold
(100
)
$
16
July 31
Ending Inventory
224
Calculate cost of goods available for sale and ending inventory,
then sales, cost of goods sold, and gross profit, under weighted
average cost. Assume a periodic inventory system is...
Required information [The following information applies to the questions displayed below.] The following information is available...
Required information
[The following
information applies to the questions displayed below.]
The following
information is available for Lock-Tite Company, which produces
special-order security products and uses a job order costing
system.
April 30
May 31
Inventories
Raw
materials
$
28,000
$
52,000
Work in
process
9,000
21,000
Finished
goods
61,000
33,300
Activities and
information for May
Raw materials
purchases (paid with cash)
181,000
Factory payroll
(paid with cash)
200,000
Factory
overhead
Indirect
materials
10,000
Indirect
labor
46,000
Other overhead
costs...
Required information [The following information applies to the questions displayed below.] The following information is available...
Required information
[The following information applies to the questions
displayed below.]
The following information is available for Lock-Tite Company, which
produces special-order security products and uses a job order
costing system.
April 30
May 31
Inventories
Raw materials
$
46,000
$
55,000
Work in process
9,000
19,600
Finished goods
62,000
33,300
Activities and information for May
Raw materials purchases (paid with cash)
183,000
Factory payroll (paid with cash)
250,000
Factory overhead
Indirect materials
11,000
Indirect labor
57,500
Other overhead costs...
A) Required information [The following information applies to the questions displayed below.] The following information pertains...
A) Required information
[The following information applies to the questions
displayed below.]
The following information pertains to the inventory of Parvin
Company during Year 2:
Jan. 1
Beginning Inventory
400
units
@
$
30
Apr. 1
Purchased
2,000
units
@
$
35
Oct. 1
Purchased
600
units
@
$
38
During Year 2, Parvin sold 2,700 units of inventory at $90 per unit
and incurred $41,500 of operating expenses. Parvin currently uses
the FIFO method but is considering a change...
Required information [The following information applies to the questions displayed below.] The following information was reported...
Required information
[The following information applies to the questions displayed
below.]
The following information was reported in the December 31,
2017, financial statements of National Airways, Inc. (listed
alphabetically, amounts in millions).
Accounts Payable $ 4,125
Accounts Receivable 710
Aircraft Fuel Expense 10,000
Cash 3,100
Common Stock 1,285
Dividends 20
Equipment 15,930
Income Tax Expense 320
Interest Expense 260
Landing Fees Expense 4,400
Notes Payable 7,015
Repairs and Maintenance Expense 2,500
Retained Earnings (as of December 31, 2017) 8,060
Salaries...
Required information [The following information applies to the questions displayed below.] The following information is available...
Required information
[The following information applies to the questions
displayed below.]
The following information is available to reconcile Branch
Company’s book balance of cash with its bank statement cash balance
as of July 31, 2017.
On July 31, the company’s Cash account has a $25,752 debit
balance, but its July bank statement shows a $27,446 cash
balance.
Check No. 3031 for $1,260 and Check No. 3040 for $622 were
outstanding on the June 30 bank reconciliation. Check No. 3040...
Required information [The following information applies to the questions displayed below.] The following information is available...
Required information
[The following information applies to the questions
displayed below.]
The following information is available to reconcile Branch
Company’s book balance of cash with its bank statement cash balance
as of July 31, 2017.
On July 31, the company’s Cash account has a $24,754 debit
balance, but its July bank statement shows a $26,063 cash
balance.
Check No. 3031 for $1,110 and Check No. 3040 for $547 were
outstanding on the June 30 bank reconciliation. Check No. 3040...
Question: Required information [The following information applies to the questions displayed below.] Fo... Required information [The...
Question: Required information [The following information
applies to the questions displayed below.] Fo...
Required information
[The following information applies to the questions
displayed below.]
For many years, Yelena Company manufactured a single product
called a Mono-Relay. Then three years ago, the company automated a
portion of its plant and at the same time introduced a second
product called a Bi-Relay that has become increasingly popular. The
Bi-Relay is a more complex product, requiring 1.00 hour of direct
labor time per...
[The following information applies to the questions displayed below.] Markus Company’s common stock sold for $3.25...
[The following information applies to the questions
displayed below.]
Markus Company’s common stock sold for $3.25 per share at the
end of this year. The company paid a common stock dividend of $0.65
per share this year. It also provided the following data
excerpts from this year’s financial
statements:
Ending
Balance
Beginning
Balance
Cash
$
39,000
$
35,200
Accounts receivable
$
72,000
$
56,200
Inventory
$
61,900
$
72,000
Current assets
$
172,900
$
163,400
Total assets
$
531,000
$...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- PUT IN JAVA PROGRAMMING The StockB class: Design a class named StockB that contains the following...
- Draw a DFA for the following ( ∑ = {0,1}): Set of all strings with.
- In the article from Forbes notes that the goal of a leader is not to clone...
- Many people keep time using a 24 hour clock (11 is 11am and 23 is 11pm,...
- UNIX ONLY -- DIFFICULT LAB ASSIGNMENT This is an extremely difficult subject for me. Could you...
- Do you know why your credit card can be refused even though you are profitable?
- The Following Java expression: S/10 * 10 + 10 – S = C Show that this...
ADVERTISEMENT