The following items were shown on the balance sheet of McKean Corporation on December 31, 2014:
Shareholders' Equity
Share Capital 
Instructions
Complete the following statements and show your calculations. All of the common shares were issued at $5 per share.
a. The number of common shares issued was _______________.
b. The preferred shares dividend was $____________ per share.
c. It would cost the company $____________ to redeem 1,000 preferred shares.
d. The average issue price of the preferred shares was $_____________.
e. The total amount of cash and other assets paid to McKean Corporation in exchange for share capital, at December 31, 2014 was $______________.
Definitions:
Pale Mucous
This refers to the appearance of lighter than normal mucous membranes, which can indicate anemia or other health conditions.
Dry Mucous
Condition where the mucous secretions are less than normal, leading to dryness in areas such as the nose, throat, and eyes.
Cracked Lips
A condition where the lips become dry, chapped, or fissured, often due to environmental factors or dehydration.
Sebum Production
The process by which sebaceous glands in the skin produce and secrete an oily substance to moisturize and protect the skin.
Q2: The feature that enables the preferred shareholders
Q20: Earnings per share for 2013 is<br>A) $7.74.<br>B)
Q26: Operating line of credit borrowings usually<br>A) are
Q35: On January 1, 2013, $1,000,000, 5-year, 5%
Q53: Additions and improvements to a long-lived asset
Q74: A corporation acts under its own name
Q89: Basic earnings per share and fully diluted
Q138: Which of the following statements is INCORRECT
Q140: Under IFRS, cash paid on interest and
Q187: Expenditures that maintain the operating efficiency and