Fundamentals of Financial Accounting: E11-7 The stockholders’ equity section on the December 31

Fundamentals of Financial Accounting
E11-7 Finding Amounts Missing from the Stockholders' Equity Section
The stockholders’ equity section on the December 31, 2009, balance sheet of Chemfast Corporation reported the following amounts:
Contributed Capital
Preferred Stock (par $ 20; authorized 10,000 shares, ? issued, of which 500 shares are held as treasury stock) 104,000
Additional Paid- in Capital, Preferred 14,300
Common Stock ( no- par; authorized 20,000 shares, issued and outstanding 8,000 shares) 600,000
Retained Earnings 30,000
Preferred Treasury Stock, 500 shares at cost 9,500

Assume that no shares of treasury stock have been sold in the past.

Required:
Complete the following statements and show your computations.
1. The number of shares of preferred stock issued was .
2. The number of shares of preferred stock outstanding was .
3. The average issue price of the preferred stock was $ per share.
4. The average issue price of the common stock was $ .
5. The treasury stock transaction increased ( decreased) stockholders’ equity by .
6. The treasury stock cost $ per share?
7. Total stockholders’ equity is $ .
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