On January 1, 2020, Blossom Corporation had 106,000 shares of no-par common stock issued. 5,000 shares are held as treasur stock. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 10,000 additional shares of common stock for $16 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Purchased 1,800 additional shares of common stock for $15 per share. Dec. 15 Declared a cash dividend on outstanding shares of $1.30 per share to stockholders of record on December 31.

On January 1, 2020, Blossom Corporation had 106,000 shares of no-par common stock issued. 5,000 shares are held as treasur stock. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 10,000 additional shares of common stock for $16 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Purchased 1,800 additional shares of common stock for $15 per share. Dec. 15 Declared a cash dividend on outstanding shares of $1.30 per share to stockholders of record on December 31.

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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