View PoliciesCurrent Attempt in ProgressOn January 1,2021, Blossom Corporation had 980,000 shares of common stock outstanding. On March 1, the corporation issued150,000 new shares to raise additional capital. On July 1, the corporation declared and issued a 2-for-1 stock split. On October 1,the corporation purchased on the market 540,000 of its own outstanding shares and retired them.Compute the weighted average number of shares to be used in computing earnings per share for 2021.Weighted average number of sharesSave for LaterAttempts: 0 of 1 usedSubmit AnswerMacBook Air

Calculation of weighted average number of shares : Outstanding shares on JAN 1, 2021 (980,000 *…

On January 1, 2021, Blossom Corporation had 980,000 shares of common stock outstanding. On March 1, the corporation issued 150,000 new shares to raise additional capital. On July 1, the corporation declared and issued a 2-for-1 stock split. On October 1, the cor

On January 1, 2021, Blossom Corporation had 980,000 shares of common stock outstanding. On March 1, the corporation issued 150,000 new shares to raise additional capital. On July 1, the corporation declared and issued a 2-for-1 stock split. On October 1, the cor

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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Tolkin Corporation was organized on January 1, 2019, with an authorization of 5,000,000 shares of $1 par value common stock. During 2019,Tolkin had the following common stock transactions: Jan. 4 Issued 300,000 shares @ $8 per share. Apr. 8: Issued 100,000 shares @ $6 per share. July 29: Purchased 90,000 shares (treasury) @ $7 per share. Oct. 18: Sold 60,000 shares held in treasury @ $9 per share. Dec. 31: Sold 30,000 shares held in treasury @ $6 per share. Tolkin had no other transactions affecting paid-in capital. At December 31, 2019, what is the total amount of paid-in capital? Select one: a. $3,120,000 b. $3,090,000 c. $2,660,000 d. $2,720,000 e. None of the above
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