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upton upton
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6 years ago
From the following, determine the book value per share for preferred and common stocks; no dividends are in arrears on the preferred stock.

   Stockholders' Equity
Preferred Stock, 8% cumulative and
   $8 par value, $12 redemption value
   4,000 shares issued and outstanding   $32,000
Common Stock, $1 par value, 30,000 shares
   issued and outstanding   30,000
Retained Earnings   24,000
   ________
   Total Stockholders' Equity   $86,000
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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keytwokeytwo
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6 years ago
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Book value for preferred:
   Redemption value   $12 per share
   Dividends in arrears   0
   Total BV per share   $12
Number of shares   4,000
Total BV preferred   $48,000

Book value for common:
   Total stockholders' equity   $86,000
   Less: preferred BV   48,000
   Total BV for common   $38,000
   Number of common shares   30,000
   BV per share, common   $1.27
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