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Acc 206 Week 2 Assignment

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Week 2 Assignment
ACC 206

1. Analysis of stockholders' equity 1. Preference stock (100 par value) issued during 20X6 = 580,000 – 500,000 = $80,000

Number of preference shares issued during 20X6

= Par value of preferred shares issued / Par value per share of preferred shares
= 80,000 / 100
= 800 shares

2. Common stock (10 par value) sold in 20X6 = 2,350,000 – 1,750,000 = $600,000

Number of common stock sold = 600,000 / 10 = 60,000 shares

Additional paid in capital = 4,620,000 - 3,600,000 = $1,020,000

Average issue price of common stock sold in 20X6:

Par value of common stock issued 600,000
(+) Additional paid in capital : Common stock 1,020,000
Total issue price of common stock 1,620,000
Average issue price
= Total issue price/ Number of common stock sold
= 1,620,000 / 60,000
= $27
The average issue price of the common stock sold in 20X6 = $27

3. Increase in paid in capital of preferred shares at par = 580000 – 50000 = 80,000
Increase in paid in capital of preferred shares in excess of par value = 24000 – 0 = 24000
Total increase in paid in capital of preferred shares = 80,000 + 24,000
= $104,000
Increase in paid in capital of common stock at par = 2350,000 – 1750,000 = 600,000 Increase in paid in capital of common stock in excess of par value = 4620,000 - 3600,000 = 1020,000
Total increase in paid in capital of common stock
= 600,000 + 1,020,000
= $1,620,000
Therefore, company’s paid in capital increased during 20X6

= 104,000 + 16,20,000
=

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