The charter of a corporation provides for the issuance of 111,000 shares of common stock. Assume that 59,000 shares were originally issued and 5,100 were subsequently reacquired. What is the number of shares outstanding? Select the correct answer. 64,100 59,000 53,900 5,100

The charter of a corporation provides for the issuance of 111,000 shares of common stock. Assume that 59,000 shares were originally issued and 5,100 were subsequently reacquired. What is the number of shares outstanding? Select the correct answer. 64,100 59,000 53,900 5,100

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: The following accounts are found in the shareholders' equity of Dahlia Corporation: Preference…

A: Shareholders' equity section is a part of balance sheet which shows the owners' claim on the net…

Q: A corporation has 50,000 shares of $25 par stock outstanding. If the corporation issues a 3-for-1…

A: Stock split means when in exchange of one share of the company, company provides more value to the…

Q: The charter of a corporation provides for the issuance of 103,000 shares of common stock. Assume…

A: Share can be issued upto charter of a corporation provides. reacquired shares are those shares which…

Q: he manner of voting in the election of the Board of Directors in a stock corporation may be done…

A: Straight voting shows the statutory voting for the meeting of the company. It s used to elect…

Q: The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume…

A: The number of authorized shares of a corporation is the maximum number of shares that a corporation…

Q: Accounting for Share Transactions At the beginning of the year, The Mann Corporation, a private…

A: Shareholder's Equity -Shareholders' equity is the portion of a company's net worth that the owners…

Q: A corporation issues 7 500 shares of capital share as a dividend in an effort to reduce retained…

A: Dividend: Dividend is the return to the shareholders for their investment in the company. It is…

Q: Magbarkada Corporation hire promoters to procure subscriptions for the corporation. As per Articles…

A: Under the Corporation Code, at least 25% of the amount subscribed must be paid-up and in no case be…

Q: Outstanding shares are the

A: Outstanding shares are the shares that the traded in the market. It is important to note that these…

Q: A corporation purchases 5,595 shares of its own $3 par common stock for $25 per share, recording it…

A: Stockholders’ Equity (SE): Stockholders Equity refers to the right the owner possesses over the…

Q: When a corporation has only one class of share capital, book value per share is computed as…

A: The ratio analysis helps to analyse the financial statements of the business.

Q: If a corporation issues 6,000 shares of $5 par value common stock for 89,000 the journal entry would…

A: Total par value of Common Stock = No. of Common Stock issued x par value per share = 6000 x $5 =…

Q: 16) A corporation originally issued $15 par value common stock for $17 per share. Which of the…

A: The journal entries are prepared to record the transactions on a regular basis. The treasury stock…

Q: Journalize the corporations transactions for 2024 and use the image attached stating the short…

A: Journal Entry is the primary step in recording the transactions in the books of accounts.The…

Q: The following data were reported by a corporation: Authorized shares 20,000 Issued shares 15,000…

A: The outstanding shares are the shares that are issued and subscribed by shareholders.

Q: A corporation purchases 4,608 shares of its own $7 par common stock for $29 per share, recording it…

A: Whenever a corporation purchases some of its outstanding stock from its shareholders and does not…

Q: the total number of outstanding shares of West Corporation amounts to?

A: Given information is: If West Corporation has 80,000 ordinary shares authorized, has 50,000 ordinary…

Q: The corporation was organized early this year. Authorization was obtained to issue 100,000 shares of…

A: Shareholder equity means the amount that belong to the owner of the company i.e. share holder.…

Q: Sheffield Corp, a private corporation, received its articles of incorporation on January 3, 2021. It…

A: Journal entries are entered in the book by using the double-entry bookkeeping principle. This…

Q: The charter of a corporation provides for the issuance of 120,000 shares of common stock. Assume…

A: Formula: Total dividends = Number of Outstanding shares x Dividend per share

Q: What is the number of shares outstanding?

A: Answer - c.44,000

Q: International Co. issues 4,000 shares of its $5 par value common stock having a fair value of $25…

A: The different shares are issued at lump sum amount, then at can be allocated to different shares…

Q: If ABC Corp. has 120,000 shares of common stock authorized, has 75,000 shares of common stock issued…

A: Common stock is a type of security that represents ownership in a corporation. When a company issues…

Q: The corporation was organized early this year. Authorization was obtained to issue 100,000 shares of…

A: Cumulative preference share means where the dividend in arrears of last year will also be paid.…

Q: The charter of a corporation provides for the issuance of 99,000 shares of common stock. Assume that…

A: Dividends: Distribution of company profits to their share holders based on their investments.

Q: What is the effect on the corporation's revenue of the period? What is the effect on stockholders'…

A: Treasury Stock: Treasury stock refers to the stock that a company repurchases its own issued stock…

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: A corporation has 65,539 shares of $18 par value stock outstanding that has a current market value…

A: Formulas: Out standing share = Number of shares * Split ratio

Q: A corporation issued shares with par value of P 200.00, subsequently, the corporation purchased the…

A: Stock Certificate: One kind of stock certificate is a piece of paper that physically symbolises a…

Q: The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume…

A: Number of shares issued = No. of shares issued - No. of shares reaquired

Q: The charter of a corporation provides for the issuance of 114,615 shares of common stock. Assume…

A: Note: Dividend is paid on the number of shares issued and outstanding. Number of shares issued and…

Q: 3. Equity transactions. Presented below is information related to Winter Company: 1. The company is…

A: Working Note: 1. Common Stock A/c = No of common stock issued x value per share = (12,000x$10) =…

Q: 2) A corporation's board of directors declares a 8:1 common share stock split. Currently, total…

A: STATEMENT OF SHAREHOLDERS EQUITY Statement of Shareholders Equity is also Known as Changes in…

Q: The number of outstanding shares is:

A: Treasury stock represents the repurchase of the own share by the company. It reduces the outstanding…

Q: A Corporation has 6,000 shares of P100 par value Ordinary Share Capital and reacquires 1,000 shares…

A: Treasury stock: Shares which are bought back by the company from the open…

Q: procedures (descriptive) that you would apply to the retained earnings account (10%) 2. briefly…

Q: The charter of a corporation provides for the issuance of 95,000 shares of common stock. Assume that…

A: Common stock: These are the shares issued by a company to an outsider. These shares entitle a share…

Q: 25) A corporation declares a dividend of $0.50 per share on 16,000 shares of common stock. Which of…

A: A dividend is a distribution of a portion of a company's earnings to its shareholders, generally in…

Q: Given that there are 4,000,000 shares outstanding in Miller Corp., how many shares will be required…

A: Minority group of shareholders are those shareholders who do not have majority of the shares of the…

Q: How many shares of stock are still unissued? How many shares are subscribed? How many shares are…

A: Unissued shares of stock are part of authorized capital that is not issued by the company.

Q: what is the market capitalization of the corporation

A: Market capitalization is known as the market value of all the shares issued in the market. It is…

Q: The charter of a corporation provides for the issuance of 94,546 shares of common stock. Assume that…

A: Dividend is paid on the shares outstanding. Shares outstanding = 41,432 - 3,112 = 38,320 shares

Q: The articles of incorporation provide for the issuance of 100,000 ordinary shares capital. Assume…

A: No. of shares outstanding : No. of shares outstanding are calculated by substracting the shares…

Q: 1.What is the number of outstanding ordinary shares? 2. What is the number of outstanding…

A: Shares The capital of the company divided into small units is called a share. Each share is given a…

Q: A corporation has 49,000 shares of $27 par value stock outstanding. If the corporation issues a…

A: Number of shares outstanding after split off = Number of shares outstanding before split off x…

Question

Select the correct answer.

64,100

59,000

53,900

5,100

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

A corporation had the following information related to its shares of common stock during the current year. January 1 May 30 October 1 Common shares outstanding Acquired common shares Reissued treasury stock November 30 Declared 2-for-1 stock split At December 31, how many shares of common stock did this corporation have outstanding? O 19,900 O 39,800 41,000 39,900 20,000 300 200
The charter of a corporation provides for the issuance of 115,494 shares of common stock. Assume that 43,963 shares were originally issued and 4,399 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared? Oa. $115,494 Ob. $79,128 Oc. $4,399 Od. $43,963
5. PURPLE Corporation was incorporated at the beginning of the current year and provided the following information: (refer to photo) How many shares were issued and outstanding? Issued - 385,500; Outstanding - 379,200 Issued - 385,500; Outstanding - 366,600 Issued - 390,000; Outstanding - 383,700 Issued - 390,000; Outstanding - 371,100
3. Authorized shares represent the a.number of shares that have been sold. b.number of shares that are currently held by shareholders. c.number of shares that have been repurchased by the corporation. d.maximum number of shares that can be issued.
Question 4.) A corporation issues 2,500 shares of common stock for P45,000. The stock has stated value of P10 per share . The journal entry to record the stock issuance would include a credit to Share Capital of? A. P20,000 B. P25,000 C. P45,000 D. P5,000
A corporation has 45,000 shares of $23 par value stock outstanding. If the corporation issues a 3-for-1 stock split, the number of shares outstanding after the split will be a.45,000 shares. b.135,000 shares. c.11,250 shares. d.180,000 shares.
The charter of a corporation provides for the issuance of 119,000 shares of common stock. Assume that 55,000 shares were originally issued and 11,100 were subsequently reacquired. What is the number of shares outstanding? a. 55,000 b. 43,900 c. 119,000 d. 11,100
Issued shares are the number of O authorized shares that have been sold. O shares a corporation is legally able to sell. shares sold each year by the corporation. O authorized shares in the corporation's articles of incorporation.
The par value of ordinary shares is equal to? a. The amount received by the corporation when the share is originally issued. b. The amount of which the share is currently trading in the stock market. c. A designated peso amount per share established in the articles of incorporation d. A designated peso amount per share which should not be lower than ₱5. e. All of the choices
The Corporation shareholders' equity section of the Statement of Financial Position includes the following accounts and balances: P500,000 Ordinary Share Capital, P100 par, 5,000 shares issued Ordinary Share Premium Retained earnings 750,000 Assuming a major shareholder donated 5,000 shares when the market value of the share capital was P140 per share, and was recorded as a debit to Treasury Shares and credit to Donated Capital. How much was the increase (decrease) in the total Additional Paid In Capital? Put a parenthesis if your answer is decrease. 50,000
The charter of a corporation provides for the issuance of 117,000 shares of common stock. Assume that 64,000 shares were originally issued and 11,700 were subsequently reacquired. What is the number of shares outstanding? a. 52,300 b. 64,000 c. 11,700 d. 117,000
A corporation has the following account balances: Common stock, $1 par value, $42000; Paid-in Capital in Excess of Par, $730000. Based on this information, the O number of shares outstanding is 772000. O legal capital is $772000. O number of shares issued is 42000. O average price per share issued is $6.96.