Homework Answers
ANSWER
Solution 1:
Shares authorized = 400,000
Share issued = $2,130,000 / $15 = 142,000 shares
Shares outstanding = Share issued - Treasury stock = 142,000 - 7000 = 135,000 shares
Solution 2:
Par value of share issued = 142,000 *10 = $1,420,000
Balance in additional paid in capital = $2,130,000 - $1,420,000= $710,000
Solution 3:
Earning per share = Net Income / Outstanding shares = $282,150/ 135,000 = $2.09
Solution 4:
Dividend per share = Dividend paid / Outstanding shares = $163,350 / 135,000 = $1.21
Solution 5:
Treasury stock will be shown in balance sheet under stock holder equity section as deduction from stockholder equity. Amount to be shown = 7000 * $14 = $98,000
Solution 6:
Par value per share after stock split = $10 / 2 = $5
Nos of shares outstanding after stock split = 135,000 *2 = 270,000 shares
Solution 7:
No entry is required for stock split.
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