Ontario Inc. presents the following shareholders’ equity accounts at December 31
ID: 2765856 • Letter: O
Question
Ontario Inc. presents the following shareholders’ equity accounts at December 31, 2015:
Retained earnings $14
Common stock, $1 par value 20
Additional paid in capital on common stock 40
Preferred stock, 6 shares issued 12
Treasury stock, 5 shares of common stock 18
Required: Fill in the blanks.
1.The total amount of shareholders’ equity is $________.
2.The total amount of contributed capital is $________.
3.The par value per share of preferred stock is $_________.
4.The number of shares of common stock outstanding is ________.
5.The cost per share of treasury stock was $_________.
6.Assume that the firm paid a $.20 per share dividend on common stock at year-end. The total dollar amount of the dividend paid was $_________.
Explanation / Answer
1. The total amount of shareholders’ equity is $ 68. (14+20+40+12-18) 2.The total amount of contributed capital is $ 54. (20+40+12-18) 3.The par value per share of preferred stock is $ 2. (12/6) 4.The number of shares of common stock outstanding is 15. (20-5) 5.The cost per share of treasury stock was $ 3.6 (18/5) 6.Assume that the firm paid a $.20 per share dividend on common stock at year-end. The total dollar amount of the dividend paid was $ 3. (15 X0.2)
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