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[The following information applies to the questions displayed below.]   The stockholders’ equity section of Velcro World is presented here.   VELCRO WORLD Balance Sheet (partial) ($ and shares in thousands)         Stockholders' equity:         Preferred stock, $1 par value $ 6,000     Common stock, $1 par value   30,000     Additional paid-in capital   1,164,000     Total paid-in capital   1,200,000     Retained earnings   288,000     Treasury stock, 11,000 common shares   (352,000 )   Total stockholders' equity $ 1,136,000         Based on the stockholders’ equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands.   Required: 1. How many shares of preferred stock have been issued?

[The following information applies to the questions displayed below.]   The stockholders’ equity section of Velcro World is presented here.   VELCRO WORLD Balance Sheet (partial) ($ and shares in thousands)         Stockholders' equity:         Preferred stock, $1 par value $ 6,000     Common stock, $1 par value   30,000     Additional paid-in capital   1,164,000     Total paid-in capital   1,200,000     Retained earnings   288,000     Treasury stock, 11,000 common shares   (352,000 )   Total stockholders' equity $ 1,136,000         Based on the stockholders’ equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands.   Required: 1. How many shares of preferred stock have been issued?

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 4CE: Prepare the stockholders equity section of the balance sheet based on the following account...
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[The following information applies to the questions displayed below.]

 

The stockholders’ equity section of Velcro World is presented here.
 

VELCRO WORLD
Balance Sheet (partial)
($ and shares in thousands)        
Stockholders' equity:        
Preferred stock, $1 par value $ 6,000    
Common stock, $1 par value   30,000    
Additional paid-in capital   1,164,000    
Total paid-in capital   1,200,000    
Retained earnings   288,000    
Treasury stock, 11,000 common shares   (352,000 )  
Total stockholders' equity $ 1,136,000    
 

 

Based on the stockholders’ equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands.

 

Required:

1. How many shares of preferred stock have been issued? 

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