6. Kevin M, an accountant at DM Inc., a mid-size papercompany, spilled chili on the following document:DM Inc. Common Stock ReportAuthorized Shares:Issued Shares:Outstanding Shares:Treasury Shares:5,0004.0001,000His Boss Michael S. wants to know how many outstandingshares DM Inc. would have if they issued a 3:2 stock split.Please help Kevin figure out the number of shares outstandingDM Inc. has before he gets in trouble.a. 1,000 sharesb. 2,000 sharesc. 4,500 sharesd. 3,000 shares

The treasury stock decreases the number of shares outstanding. The dividend is not declared for the…

Answered: 6. Kevin M, an accountant at DM Inc., a…

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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Y Corporation is organized with authorized common stock of 10,000 shares without par value. If Y then issues 500 shares for cash at $10 per share, it makes the following entry .a Dr. Cash 5,000 and Cr. Common Stock .5,000 .b Dr. Cash 1,500 and Cr. Paid in capital -CS .1,500 .c Dr. Equipment 1,500, Cr. Common Stock .5,00 and Cr. Paid in capital -CS 1,000 .d Dr. Cash 1,500, Cr. Common Stock 500 .and Cr. Paid in capital -CS 1,000
Safron Inc. has the following data about its common stock: Par value =$1 per share Authorized shares = 10,000,000 Outstanding shares = 4,237,000 Issued shares = 4,630,000 How many shares of treasury stock are there?
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Copper Grill Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Copper Grill Restaurant Corporation, which had 18,000 shares of common stock outstanding, declared a 2-for-1 stock split. a. What will be the number of shares outstanding after the split? shares b. If the common stock had a market price of $228 per share before the stock split, what would be an approximate market price per share after the split? per share
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Required information Use the following information for Exercises 4-5 below. (Algo) [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 4,000 shares of $10 par value common stock for $48,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $35,500. The stock has a $2 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $35,500. The stock has no stated value. 4. A corporation issued 1,000 shares of $75 par value preferred stock for $110,500 cash. xercise 11-4 (Algo) Recording stock issuances LO P1 repare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet
Willey's Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willey's Grill & Restauran which had 355,000 shares of common stock outstanding, declared a 2-for-1 stock split. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet a. What will be the number of shares outstanding after the split? Round your answer to nearest whole number. shares b. If the common stock had a market price of $570 per share before the stock split, what would be an approximate market price per share after the split? Round your answer to the nearest dollar. $
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Willey’s Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willey’s Grill & Restaurant, which had 36,000 shares of common stock outstanding, declared a 2-for-1 stock split. a. What will be the number of shares outstanding after the split?fill in the blank 1 shares b. If the common stock had a market price of $192 per share before the stock split, what would be an approximate market price per share after the split?$fill in the blank 2 per share
A corporation, which had 30,900 shares of common stock outstanding, declared a 5-for-1 stock split.

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