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.
On 1/1/2023 ABC issued 586 shares of common stock with a par value of $2 at $54 each.\\nOn June 15, 2023, he repurchased 293 in exchange for $43.2.\\n\\nWhat is the total contributed capital after purchasing the shares on June 15?On 1/1/2023 ABC issued 586 shares of common stock with a par value of $2 at $54 each.\\nOn June 15, 2023, he repurchased 293 in exchange for $43.2.\\n\\nWhat is the total contributed capital after purchasing the shares on June 15? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
I am having trouble figuring out if I did my calculations correctly for part A and I'm not sure what to do for part B

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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?