On January 1, Ivanhoe Corporation had 91,000 shares of no-par common stock issued and outstanding. The stock has a stated value o $6 per share. During the year, the following occurred. Apr. 1 June 15 July 10 Dec. 1 (a) 15 Issued 21,000 additional shares of common stock for $17 per share. Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. Issued 2,500 additional shares of common stock for $18 per share. Declared a cash dividend on outstanding shares of $2.30 per share to stockholders of record on December 31.
On January 1, Ivanhoe Corporation had 91,000 shares of no-par common stock issued and outstanding. The stock has a stated value o $6 per share. During the year, the following occurred. Apr. 1 June 15 July 10 Dec. 1 (a) 15 Issued 21,000 additional shares of common stock for $17 per share. Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. Issued 2,500 additional shares of common stock for $18 per share. Declared a cash dividend on outstanding shares of $2.30 per share to stockholders of record on December 31.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 3P: On January 1, 2019, Kittson Company had a retained earnings balance of 218,600. It is subject to a...
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