12) Mr JFINEX currently owns 500 sharesof ABC stock. The company declared a150% stock dividend two days earlier. Lastyear, it had a 2 for 5 reverse stock split.How many shares did Mr. JFINEX own priorto the stock dividend and reverse split?A) 300B) 500C) 833D) 3,125E) None of the above

The weighted average number of common share outstanding: It is the number of shares outstanding a…

Answered: 12) Mr JFINEX currently owns 500 shares…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please See attached.
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9. Mr. JFINEX owns 100 shares of stock in Finance Corporation with a market value of 30,000. The Company declares a stock dividend of 20%. How many shares does JFINEX own after? A) 120 shares with a market value of 24,000 B) 100 shares with a market value of 24,000 C) 120 shares with a market value of 30,000 D) 80 shares with a market value of 30,000

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12) Mr JFINEX currently owns 500 shares of ABC stock. The company declared a 150% stock dividend two days earlier. Last year, it had a 2 for 5 reverse stock split. How many shares did Mr. JFINEX own prior to the stock dividend and reverse split?