During May, 2016, Nevling Outdoor Corporation announced a 3-for-1forward stock split. This brought the number of shares outstandingfrom 25,792,000 shares to shares, and its $1.80 par value toper share.A) 8,897,334; $0.60B) 77,376,000; $0.60C) 8,597,334; $5.40D) 77,376,000; $5.40

Under stock split, company increases its number of outstanding shares with a multiple but total…

Answered: During May, 2016, Nevling Outdoor…

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

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Chapter1: Financial Statements And Business Decisions

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The equity section of Atticus Group’s 2017 year-end balance sheet had 200,000 shares of $4 par value common stock authorized. Of this amount, 40,000 shares were issued and outstanding in one offering in which the stock was sold at $7 per share. Retained earnings had a balance of $320,000. The following transactions and events occurred in 2018. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10, to be paid February 10. Mar. 20 Purchased 3,000 shares of treasury stock for $10 per share. Apr. 5 Declared a 20% stock dividend when the stock’s market value was $12 per share. The dividend is to be distributed on April 30 to stockholders of record on April 10. Jul. 5 Declared a $0.25 per share cash dividend, date of record July 10, to be paid August 10. Aug. 14 Issued 4,000 shares at $15 per share. Oct. 5 Declared and distributed a 2-for-1 stock split. Dec. 31 Atticus recorded net income of $248,000 in 2018. 1.What is total paid-in capital one…
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During May, 2016, Nevling Outdoor Corporation announced a 3-for-1 forward stock split. This brought the number of shares outstanding from 25,792,000 shares to shares, and its $1.80 par value to per share. A) 8,897,334; $0.60 B) 77,376,000; $0.60 C) 8,597,334; $5.40 D) 77,376,000; $5.40