Biotech Corporation had 700,000 ordinary shares authorized and 400,000 ordinary shares issued and outstanding on December 31, 2019. The following events occurredu Dduring020:   Jan. 31 Declared 10% share dividend Mar 15 Reacquire its own 120.000 shares Aug 04  Reissued0.000 shares Nov. 30 Declared 3-for-1 stock split Note: share dividend has been distributed before the split. As of December 31, 2020. how many ordinary shares are outstanding?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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1. The shareholders' equity of the Company revealed the following on June 30, 2019:

Preference Share, P 100 par value    230,000

Preference Share Premium  80,500

Ordinary Share, P 15 stated value 525,000

Ordinary Share Premium  275,000

Ordinary Share Subscribed 5,000

Retained Earning 190,000

Notes Payable 400,000

Subscription Receivable Ordinary 40,000

 

2. Biotech Corporation had 700,000 ordinary shares authorized and 400,000 ordinary shares issued and outstanding on December 31, 2019. The following events occurredu Dduring020:

 

Jan. 31 Declared 10% share dividend

Mar 15 Reacquire its own 120.000 shares

Aug 04  Reissued0.000 shares

Nov. 30 Declared 3-for-1 stock split

Note: share dividend has been distributed before the split. As of December 31, 2020. how many ordinary shares are outstanding?

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