4 minutes Gross Company has 300,000 common shares outstanding on 1/1/21. During 2021, Grossundertook the following stock transactions: April 1 issued a 20% stock dividend, October 1reacquired 10,000 shares for the treasury. Determine the weighted-average number of commonshares outstanding for Gross Company.O 357,500.O 350,000.360,000.362,500.

Starting with the beginning shares of 300,000, we add the additional shares from the stock dividend…

Answered: ross Company has 300,000 c he following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

From page 10-3 of the VLN, when the company sells 100 shares of the treasury stock for $11 per share, how much did total stockholders’ equity increase?______
A corporation has 49,000 shares of $27 par value stock outstanding. If the corporation issues a 3-for-1 stock split, the number of shares outstanding after the split will be O a. 147,000 shares. O b. 49,000 shares. OC. 12,250 shares O d. 196,000 shares.
R360 000 being the proceeds of issuing 600 000 Ordinary shares of 50 cents each, has been posted from the Cash Book to the credit of the Share Capital account. How should this error be corrected? Dr Share Capital account R300 000, Cr Share Premium account R360 000 or Dr Cash account R360 000, Cr Share Capital account R300 000 and Cr Share premium R60 000 or Dr Suspense account R360 000 Cr Share Capital a/c R300 000 and Cr Share Premium R60 000 or Dr Share Capital account R60 000, Cr Share Premium R60 000
KA.
оттоn E11-2 Sagan Co. had these transactions during the current period. k and ck. Issued 80,000 shares of $1 par value common stock for cash of $300,000. June 12 July 11 Issued 3,000 shares of $100 par value preferred stock for cash at $106 per share. Nov. 28 Purchased 2,000 shares of treasury stock for $9,000. Instructions eg-on lo ade 000,06 bel noogio Prepare the journal entries for the Sagan Co. transactions. F412 Denland Cornontion is authorized to issue both preferred and common stock. The horno Jou
Wonder Ltd. has treasury stock transactions in 20X9 as follows: a. Feb. 27 Purchased 140,000 common shares as treasury stock at $6.50 per share. b. March 15 Purchased 64,000 common shares as treasury stock for $5.50 per share. c. April 30 Reissued 100,000 shares of treasury stock for $4.25 per share. d. May 16 Purchased 54,000 common shares as treasury stock for $6.05 per share. e. Nov. 26 Reissued 268,000 shares of treasury stock for $4 per share. At the end of 20X8, Wonder Limited had reported the following in shareholders’ equity: Common shares, no-par value; authorized, unlimited shares; issued, 5,800,000 shares, outstanding, 5,500,000 shares $ 21,117,000 Contributed capital on treasury stock transactions 133,600 Retained earnings 14,840,000 Treasury stock, 300,000 common shares (1,260,000) Required:1. Prepare…
A corporation has 20,000 ordinary shares issued, par value P30, and reacquires 4,000 shares at P40 as treasury shares What is the balance of the ordinary share capital account after the purchase of treasury shares? Select the correct response P600,000 O P440,000 O P760,000 O P480,000 ( Previous Continue
Rahul
A company has the following Capital Structure: Ordinary $10 shares authorized: 1,000,000, of which 800,000 are issued. 100,000 $20 Preference shares issued and $5,000,000 Bonds at 5% interest The directors propose a 50 cent dividend on ordinary shares. A 80 cent dividend is due on the preference shares What is the total equity of the company? $17,000,000 $12,000,000 $7,000,000 $15,000,000
A corporation has 71,868 shares of $36 par stock outstanding that has a current market value of $312 per share. If the corporation issues a 4-for-1 stock split, the market value of the stock will fall to approximately a.$17,967 b.$9 c.$78 d.$276
A corporation purchases 10,000 shares of its own $20 par common stock for $35 per share, recording it at cost. What will be the effect on total stockholders' equity? Select one: O a. increase, $200,000 O b. increase, $350,000 Oc decrease, $200,000 O d. decrease, $350,000
4. How much is the TOTAL RESERVES?

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

ross Company has 300,000 c he following stock transaction 0,000 shares for the treasury