Compute for the ordinary shares outstanding for the year ended December 31, 2019.
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 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
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Question
The equity accounts of Lawrence Company have the following balances on January 1, 2019:
Ordinary share capital, P10 par, 200,000 shares issued and outstanding | P 2,000,000 |
Share premium – ordinary | 1,200,000 |
5,600,000 |
The following events had occurred during the year 2019.
- A share dividend of 5% is declared and issued. Shares are selling at P37 during this period.
- A share dividend of 100% is declared and issued. Shares are selling at P29 during this period.
- A 2 for 1 share split is declared and issued.
- Retired 17,500 shares.
Compute for the ordinary shares outstanding for the year ended December 31, 2019.
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