Solve for Unknowns The Stockholders\' Equity category of Nettle Corp. balance sh

Question

Solve for Unknowns

The Stockholders' Equity category of Nettle Corp. balance sheet appears below.

Required:

1. Determine the missing values indicated by question marks.

2. What was the cost per share of the treasury stock? Round your answer to the nearest cent.
$ per share

Common stock, $10 par, 11,000 shares issued, 9,200 outstanding $ ? Additional paid-in capital ? Total contributed capital $311,000 Retained earnings 129,000 Treasury stock, ? shares at cost 10,000     Total stockholders' equity $ ?

Explanation / Answer

1 Common stock total par value =11000*10=$110000 Additional paid-in capital =311000-110000=$201000 Total stockholders' equity =311000+129000-10000= $430000 Number of shares of treasury stock=11000-9200=1800 2 Cost per share of the treasury stock=10000/1800= $5.56 per share

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