Sizzy Company was authorized to issue share capital of 100,000 shares with USD50 par value on January 1, 2010. Eighty thousand shares were sold during the first year at USD50 per share and 4,000 shares were later reacquired as treasury at USD65 per share. A share split proper of 5 for 1 was approved on December 31, 2010. On January 31, 2011, a 10% stock dividend was declared and issued and on April 1, 2011, the treasury shares were reissued at USD68 per share. What is the number of shares issued and outstanding on April 1, 2011?
Sizzy Company was authorized to issue share capital of 100,000 shares with USD50 par value on January 1, 2010. Eighty thousand shares were sold during the first year at USD50 per share and 4,000 shares were later reacquired as treasury at USD65 per share. A share split proper of 5 for 1 was approved on December 31, 2010. On January 31, 2011, a 10% stock dividend was declared and issued and on April 1, 2011, the treasury shares were reissued at USD68 per share. What is the number of shares issued and outstanding on April 1, 2011?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Sizzy Company was authorized to issue share capital of 100,000 shares with USD50 par value on January 1, 2010. Eighty thousand shares were sold during the first year at USD50 per share and 4,000 shares were later reacquired as treasury at USD65 per share. A share split proper of 5 for 1 was approved on December 31, 2010. On January 31, 2011, a 10% stock dividend was declared and issued and on April 1, 2011, the treasury shares were reissued at USD68 per share. What is the number of shares issued and outstanding on April 1, 2011?
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