In a recent annual report, Rosh Corporation disclosed that 60,800,000 shares of common stock have been authorized. At thebeginning of the fiscal year, a total of 36,436,357 shares had been issued and the number of shares in treasury stock was 7,251,269.During the year, 562,765 additional shares were issued, and the number of treasury shares increased by 3,074,188.Determine the number of shares outstanding at the end of the year.Note: Amounts to be deducted should be indicated by a minus sign.Computation of Shares OutstandingIssued sharesTreasury stockShares outstanding

The issued shares are the shares that have been issued by the company to the shareholders. The…

Answered: In a recent annual report, Rosh…

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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The balance sheet for Crutcher Corporation reported 260,000 shares outstanding, 360,000 shares authorized, and 26,000 shares in treasury stock. Compute the maximum number of new shares that Crutcher could issue.
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Major Communications Ltd., a publicly traded company that specializes in data capture, has been in operation for several years. On October 1, 2019, it had 10 million common shares authorized and 1,400,000 shares issued at an average value of $29 per share. As well, there were 1 million preferred shares authorized, with 220,000 of them issued at $16 per share. During the fiscal year ended September 30, 2020, the company generated net income after taxes of $22,620,000 and other comprehensive loss of $5,150,000. On October 1, 2019, the balance in Retained Earnings was $18,600,000 and the balance in Accumulated Other Comprehensive Income was $910,000. The preferred shares pay an annual dividend of $1.10. During the fiscal year 2020, the following transactions affected shareholders’ equity: 1. On November 1, 2019, 400,000 new common shares were issued at $31 per share. 2. On March 15, 2020, a 5% common stock dividend on the outstanding shares was declared and distributed when…
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