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…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 2MCQ: Which of the following statements is true? The outstanding number of shares is the maximum number of...

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The Horner Corporation has the following balance in their common shares account at January 1st 20x8: Common Shares, ? shares outstanding $14080832 The following is the journal entry recorded after reacquiring 21387 shares during the year for $336009 Common Shares $336009 Cash $336009 What was the number of common shares Horner Corporation has outstanding at January 1st 20x8? Select one: a. 14102219 b. 896246 c. 14080832 d. 658
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