Karima Corporation was formed on January 2, 2014, with 100,000 authorized shares of USD100 par value ordinary shares. January 18 Sold 30,000 shares at USD150 per share. February 16 Issued 3,000 shares for legal services with a fair value of USD400,000. The shares on this date are trading at a market value or USD160 per share. March 19 Purchased 4,000 treasury shares at a cost of USD12 per share. December 9 Sold 20,000 shares at USD100 per share. Determine how many ordinary shares are issued and how many ordinary shares are outstanding. Please

Karima Corporation was formed on January 2, 2014, with 100,000 authorized shares of USD100 par value ordinary shares. January 18 Sold 30,000 shares at USD150 per share. February 16 Issued 3,000 shares for legal services with a fair value of USD400,000. The shares on this date are trading at a market value or USD160 per share. March 19 Purchased 4,000 treasury shares at a cost of USD12 per share. December 9 Sold 20,000 shares at USD100 per share. Determine how many ordinary shares are issued and how many ordinary shares are outstanding. Please

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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