Upon submitting its corporate charter to the state, Lazer was granted permission to issue 6,000 shares of $0.30 par value common stock.Net income for the year for Lazer was $98,400. In addition, the following transactions took place during the year:January 2:March 12:Investors paid Lazer $7 each for 2,520 shares of common stockLazer purchases 600 shares of its own common stock for $6.50 per shareOctober 31: Lazer declared a 2-for-1 forward stock splitAs of December 31, how many shares are issued, and how many shares are outstanding?Select one:Оa. Issued, 4,080; Outstanding, 2,520Ob. Issued, 4,080; Outstanding, 5,040Oc. Issued, 5,040; Outstanding, 1,920оd. Issued, 5,040; Outstanding, 3,840

Stock Split is the increasing the number of shares outstanding by decreasing the par value of…

Upon submitting its corporate charter to the state, Lazer was granted permission to issue 6,000 shares of $0.30 par value Net income for the year for Lazer was $98,400. In addition, the following transactions took place during the year: January 2: Investors paid Lazer $7 each for 2,520 shares of common stock March 12: Lazer purchases 600 shares of its own common stock for $6.50 per share October 31: Lazer declared a 2-for-1 forward stock split As of December 31, how many shares are issued, and how many shares are outstanding?

Upon submitting its corporate charter to the state, Lazer was granted permission to issue 6,000 shares of $0.30 par value Net income for the year for Lazer was $98,400. In addition, the following transactions took place during the year: January 2: Investors paid Lazer $7 each for 2,520 shares of common stock March 12: Lazer purchases 600 shares of its own common stock for $6.50 per share October 31: Lazer declared a 2-for-1 forward stock split As of December 31, how many shares are issued, and how many shares are outstanding?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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