On January 1, 2021, a company had 125,000 issued shares and 25,000 treasury shares. During the year, 13,000 treasury shares were reissued. Right after the reissuance of the treasury shares, the company declared a 3-for-1 split. In December 2021, additional 5,000 shares were purchased and placed in treasury. Determine the number of shares issue

Q: On January 1, 2020, Blossom Corporation had 106,000 shares of no-par common stock issued. 5,000…

A: Cash dividend = Number of shares outstanding × Dividend per share = (106000-5000+10000) ×$1 = 111000…

Q: Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1…

A:

Q: The Corazon Corporation is authorized to issue 100,000 shares at P20 par ordinary shares. At the…

A: Total contributed capital is the total amount of capital invested by the shareholders who are the…

Q: On January 1, 2021, Dreamy Company issued 30,000 shares of $2 par value common stock for $150,000.…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Q: Bramble Corporation began its fiscal year on January 1, 2023, with 1,008,000 common shares issued…

A: The weighted average number of shares outstanding number of shares outstanding that is multiplied…

Q: 3. On January 1, 2020, Wooden Company issued 16,000 shares of $2 par value common stock for…

A: Journal Entries - Journal Entries are the records of the transactions entered into by the…

Q: The following transactions occurred for Villegas Company. 1. Villegas Company was formed on July 1,…

A: Solution:-Prepare the stockholders' equity section of Villegas Company's balance sheet as of June…

Q: Assume the year runs from January 1 to December 31. On 1 January 2020, David Corporation was…

A: Authorized Shares- It is the sum of all those shares up to which company have right to issue them in…

Q: During its first year of operations, Cupola Fan Corporation issued 34,000 of $1 par Class B shares…

A: According to the given question, we are required to prepare the journal entries. Journal entries:…

Q: 29. The Corazon Corporation is authorized to issue 100,000 shares at P20 par ordinary shares. At the…

A: calculation of total contributed  capital are as follows.

Q: Riverbed Corp was organized on January 1, 2025. It is authorized to issue 20,300 shares of 5%, $50…

A: Stated value of common stock is called as par value.  Difference between issue price per share and…

Q: Oriole Corporation was organized on January 1, 2021. During its first year, the corporation issued…

A: The journal entries are prepared to record the transactions on regular basis. The dividend is…

Q: Sunland Corporation was organized on January 1, 2021. During its first year, the corporation issued…

A: ANSWER:- a)                     Allocation Of Dividends To Each Class Of Stock Dividend Is 6% And…

Q: Bickle's Pickles Inc.'s charter authorizes the company to issue up to 100,000 common shares.  As of…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Ringmeup Inc. had net income of $135,400 for the year ended December 31, 2019. At the beginning of…

A: Basic Earnings Per Share (EPS) is a financial metric that measures the portion of a company's profit…

Q: Nash Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000…

A: The portion of company's generated profit that is to be allocated to the common stockholders of the…

Q: ALI Company issued 120,000 ordinary shares, of which 5,000 shares were held as treasury on January…

A:

Q: DEF Corporation was authorized to issue 500,000 shares, P50 par value ordinary share capital on…

A: Journal entry for issue of share capital shall be passed on 1. Application money received- journal…

Q: Prepare journal entries. 1 Record the issue of common shares to promoters.   2 Record the issue of…

A: Journal Entries of Trio Networks Corporation’s for 2020

Q: Barbie Corporation was formed on April 1, 2020. The general ledger accounts for the Barbie…

A: Share capital is the owner's contribution to the company for financing the assets. Share capital can…

Q: During 2018, the Nicklaus Corporation participated in three treasury stock transactions:a. On June…

A: Date Accounts title and explanation Debit ($) Credit ($) 30-Jun-18 Treasury stock (200,000 x 12)…

Q: VIP Corporation's first year of operations had the following transactions: 2020 Jan. 15 Issued 2,000…

A: On issuing the shares in the market, the stock account is credited by the par value of the shares…

Q: Requirement: Give the journal entries for the foregoing transactions.

A: Dividend is the amount which is paid to the shareholders of the company and the dividend amount is…

Q: On April 1, 2023, 400,000 common shares were issued at $0.90 per share. On June 1, the board of…

A: The objective of the question is to prepare the equity section of the company's balance sheet as of…

Q: LALALAND Corporation was organized on 1/1/2020. It was authorized to issue 2 million, $1 par, common…

A: Stockholder’s equity is a part of balance sheet which shows the total owner’s equity that is…

Q: In 2021, Southwestern Corporation completed the treasury stock transactions listed below. February…

A: Treasury stock refers to the stock reacquired by the company and company pays cash to acquired these…

Q: Only calculate EPS and Diluted EPS for 2021.

A: The weighted average shares is the shares which has been computed on the basis of the number of…

Q: The company has 100,000 preferred shares issued and outstanding for the entire year.  The preferred…

A: The potential equity shares are those shares that are convertible into common shares. It means these…

Q: In 2021, Southwestern Corporation completed the treasury stock transactions listed below.…

A: Introduction: The cost method is one of the most conservative methods of accounting for investments…

Q: 29. The Corazon Corporation is authorized to issue 100,000 shares at P20 par ordinary shares. At the…

A: Ordinary shares seem to be shares issued by a corporation to raise cash from the general public as…

Q: 30. During its first year of operations, Victory, Inc. entered into the following transactions…

A: note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Calculate basic earnings per share of common stock for the year ended December 31, 2022.

A: Earnings per share (EPS) quantifies a company's profitability by dividing its net income…

Q: sh of $13 per share. Mar. 9 6,000 preferred shares were issued for cash

A: A journal entry is an accounting entry that is used to record a business transaction in the…

Q: 4. During 2020, Maldives Corporation started their company on January 1st and reported the following…

A: Assuming face value of share is $10 Issue of shares  greater than face value is to be credited  to…

Q: Duke Co. had 200,000 shares of stock outstanding on January 1, 2021. On April 1, 2021, Duke issued…

A: Shares are the units of the total stock of a company which shows the fractional ownership of the…

Q: Oikawa Corporation has 150,000 Ordinary Shares authorized. As of January 1, 2020, 100,000 shares…

A: Treasury shares are bought by the company itself and therefore these shares are not included in the…