A company was started on January 1 of Year 1.During the first year of business, the following shareholder equity transactions occurred: (a) Issued 40,000 shares of 6 par value common stock for 8 per share. (b) Declared & distributed a 10% stock dividend when the market price was 10 per share. (c) Declared & issued a 2 for 1 stock split. (d) Issued 10,000 more shares of our common stock for 7 per share.(e) Declared & paid 0.35 cash dividend. After all of these transactions, how many shares of Common Stock will be issued and outstanding?

A company was started on January 1 of Year 1.During the first year of business, the following shareholder equity transactions occurred: (a) Issued 40,000 shares of 6 par value common stock for 8 per share. (b) Declared & distributed a 10% stock dividend when the market price was 10 per share. (c) Declared & issued a 2 for 1 stock split. (d) Issued 10,000 more shares of our common stock for 7 per share.(e) Declared & paid 0.35 cash dividend. After all of these transactions, how many shares of Common Stock will be issued and outstanding?

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter13: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 3PA: The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the...

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