P11-29A – Accounting homework help
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P11-29A
The balance sheet of Ballcraft, Inc., reported the following:
Preferred stock, $6 par, 6%
5,000 shares authorized and issued $30,000
Common stock, $4,000 par value, 45,000 shares authorized
10,000 shares issued $40,000
Additional paid-in capital-common $219,000
Total paid-in capital $289,000
Retained earnings $90,000
Total stockholders’ equity $379,000
Preferred dividends are in arrears for two years, including the current year. On the balance sheet date, the market value of the Ballcraft common stock was $31 per share.
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Is the preferred stock cumulative or noncumulative? How can you tell?
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What is the total paid-in capital of the company?
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What was the total market value of the common stock? (Show all work)
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Compute the book value per share of the common stock. (Show all work)
Attached is the form to use for all calculations and answers
