Problem - The stockholders' equity section on the 12/31/08 balance sheet of Wheat Corporation was:
Stockholders Equity
Contributed capital:
Common Stock, $?? par value, authorized 30,000 shares;
issued 20,000 shares; outstanding 9,000 shares... $27,000
Preferred stock, par value $50, authorized 20,000 shares; issued and outstanding, $10,000 shares... 500,000
Contributed capital in excess of par, common..... 13,000
Contributed capital in excess of par, preferred... 10,000
Contributed capital, treasury stock transactions... 3,000
Retained Earnings........................... 326,000
Cost of treasury stock,common................. 22,000
1. What was the par value of common stock?
2. What is the number of shares held as treasury stock?
3. If common stock was issued only once , what was the issue price per share?
4. How much did the treasury stock held cost per share?
5. How much is total stockholders' equity?