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Equity Accounts for Clark Manufacturing

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Following are the equity accounts for Clark Manufacturing.
Common Stock, $3 Par $ 550,500
Capital Surplus $ 640,000
Retained Earnings $ 3,450,000
Total $ 4,640,500

a. How many shares are outstanding?
b. At what average price were the shares sold?
c. What is the book value per share of Clark stock?

Problem 2

The Eastern Reserve Company equity accounts for last year are as follows:
Common Stock, $2 Par (800 shares outstanding) ?
Capital Surplus $ 24,000
Retained Earnings $ 65,000
Total ?

a. Fill in the missing numbers.
b. Eastern decided to issue 850 shares of new stock. The current market price is $27 per share.
Show the effects of the new issue upon the equity accounts.

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The solution examines the equity accounts for lark manufacturing.

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MBA 540 Problem Set III
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Problem I
Following are the equity accounts for Clark Manufacturing.
Common Stock, $3 Par $ 550,500
Capital Surplus $ 640,000
Retained Earnings $ 3,450,000
Total $ ...

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