90.2K

Verified Solution

Link Copied!

just requirement 2,3 and 6

sssume that the stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown below. he year, the company reported net income of $241,155,000 and declared and paid dividends of $11,899,000. 1. What is the par value of Magnum's Class A common stock? 2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? 3. What amount was reported in the Retained Earnings account at the end of last year? 4. How is the dollar amount in the treasury stock account at the end of the current year reflected on the asset side of the balance sheet? 5. During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equity? 6. At the end of the current year, what was the average price paid per share for shares held in treasury stock? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. How many shares of Class A Common stock were outstanding at the end of last year and the end of the current year? Assume that the stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown below. Durit the year, the company reported net income of $241,155,000 and declared and paid dividends of $11,899,000. 1. What is the par value of Magnum's Class A common stock? 2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? 3. What amount was reported in the Retained Earnings account at the end of last year? 4. How is the dollar amount in the treasury stock account at the end of the current year reflected on the asset side of the balance sheet? 5. During the current year, by what amount did treasury stock transactions increase or decrease stockhoiders' equity? 6. At the end of the current year, what was the average price paid per share for shares held in treasury stock? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. What amount was reported in the Rotained Earnings account at the end of last year? E11-6 (Algo) Finding Amounts Missing from the Stockholders' Equity Section LO11-1, 11-3, 11-7 Assume that the stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown beiow. During the year, the company reported net income of $241,155.000 and declared and paid dividends of $11,899,000. Required: 1. What is the par value of Magnum's Class A common stock? 2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? 3. What amount was reported in the Retained Earnings account at the end of last year? 4. How is the dollar amount in the treasury stock account at the end of the current year refiected on the asset side of the balance sheet? 5. During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equity? 6. At the end of the current year, what was the average price paid per share for shares held in treasury stock? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. At the end of the current year, what was the average price paid per share for shares held in treasury stock? Noto: Round your answer to 2 docimal places

Answer & Explanation Solved by verified expert

See Answer