The shareholders' equity section of Max Inc. provides information as follows: Stockholders' equity Common stock, $1 par, 250,000 shares authorized, 75,500 shares issued, 72,000 shares outstanding Paid-in capital in excess of par-Common stock Retained earnings Accumulated other comprehensive income Less: Treasury stock, 3,500 shares at cost Total equity attributable to Nakoma Inc. stockholders Equity attributable to noncontrolling interests Total stockholders' equity 2. The number of issued shares is 151000 During 2020, Max Inc. has the following transactions: . On January 15, 2020, Max Inc. issued 5,000 shares of $1 par value common stock for $20 per share. . On Feburary 28, 2020, Max Inc. declared and issued a 2-for-1 stock split effected in form of a 100% large stock dividend. . On May 20, 2020, Max Inc. reacquired and retired 1,000 shares of common stock at $17.25 per share. . On December 15, 2020, Max Inc. retired 400 treasury shares. Required: Given the transactions above, on December 31, 2020, 1. The number of authorized shares is 250000 3. The number of outstanding shares is 157100 4. The number of treasury shares is 3100 shares. shares. shares. $75,500 shares. 480,000 360,000 48,000 (55,000) $908,500 5.000 $913,500
The shareholders' equity section of Max Inc. provides information as follows: Stockholders' equity Common stock, $1 par, 250,000 shares authorized, 75,500 shares issued, 72,000 shares outstanding Paid-in capital in excess of par-Common stock Retained earnings Accumulated other comprehensive income Less: Treasury stock, 3,500 shares at cost Total equity attributable to Nakoma Inc. stockholders Equity attributable to noncontrolling interests Total stockholders' equity 2. The number of issued shares is 151000 During 2020, Max Inc. has the following transactions: . On January 15, 2020, Max Inc. issued 5,000 shares of $1 par value common stock for $20 per share. . On Feburary 28, 2020, Max Inc. declared and issued a 2-for-1 stock split effected in form of a 100% large stock dividend. . On May 20, 2020, Max Inc. reacquired and retired 1,000 shares of common stock at $17.25 per share. . On December 15, 2020, Max Inc. retired 400 treasury shares. Required: Given the transactions above, on December 31, 2020, 1. The number of authorized shares is 250000 3. The number of outstanding shares is 157100 4. The number of treasury shares is 3100 shares. shares. shares. $75,500 shares. 480,000 360,000 48,000 (55,000) $908,500 5.000 $913,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Pls answer without plagiarism i give up vote
Transcribed Image Text:The shareholders' equity section of Max Inc. provides information as follows:
Stockholders' equity
Common stock, $1 par, 250,000 shares authorized, 75.500 shares
issued, 72,000 shares outstanding
Paid-in capital in excess of par-Common stock
Retained earnings
Accumulated other comprehensive income
Less: Treasury stock, 3,500 shares at cost
Total equity attributable to Nakoma Inc. stockholders
Equity attributable to noncontrolling interests
Total stockholders' equity
.
During 2020, Max Inc. has the following transactions:
. On January 15, 2020, Max Inc. issued 5,000 shares of $1 par value common stock for $20 per share.
• On Feburary 28, 2020, Max Inc. declared and issued a 2-for-1 stock split effected in form of a 100%
large stock dividend.
On May 20, 2020, Max Inc. reacquired and retired 1,000 shares of common stock at $17.25 per share.
. On December 15, 2020, Max Inc. retired 400 treasury shares.
Required: Given the transactions above, on December 31, 2020,
1. The number of authorized shares is 250000
2. The number of issued shares is 151000
3. The number of outstanding shares is 157100
4. The number of treasury shares is 3100.
shares.
shares.
shares.
$75,500
shares.
480,000
360,000
48,000
(55,000)
$908,500
5,000
$913,500
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