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If Entity C has 1,000,000 shares of common stock authorized, 400,000 common shares issued, and 5,000...
Dorado Company is authorized to issue 1,000,000 shares of common stock. They issued 400,000 shares of...
Dorado Company is authorized to issue 1,000,000 shares of common stock. They issued 400,000 shares of $5 par value stock for $18 per share. They repurchased 100,000 shares at $20 per share and reissued 20,000 of the Treasury shares at $22 per share. Assuming no shares were retired, what is the number of shares outstanding? a. 300,000 shares b. Cannot be determined based on the information given c. 900,000 shares d. 380,000 shares e. 320,000 shares
If a company has 1,000,000 shares of $2 par value common stock authorized, and has 100,000...
If a company has 1,000,000 shares of $2 par value common stock authorized, and has 100,000 shares issued at $4 a share and 20,000 shares of common stock are held in the treasury, the general ledger account for common stock would have a balance of a. $4,000,000 b. $2,000,000 c. $400,000 d. $200,000 e. $160,000
Unit 7 Discussion Question Milton Company's charter authorizes 1,000,000 shares of common stock and 400,000 shares...
Unit 7 Discussion Question Milton Company's charter authorizes 1,000,000 shares of common stock and 400,000 shares of preferred stock. In its first year of operations during 2018, the company presented the following transactions: • Issued 5,000 shares of common stock. Stock has par value of $0.01 per share and was issued at $30 per share. • Earned Net income $200,000 • Paid dividends of $5 per share. Required. 1. Prepare the journal entry to record the following: a. Common stock...
QUESTION TO On 1/1/2019, Heavens, Ltd. has 1,000,000 shares of Common Stock authorized, 430,000 shares of...
QUESTION TO On 1/1/2019, Heavens, Ltd. has 1,000,000 shares of Common Stock authorized, 430,000 shares of Common Stock issued and 415,000 shares of Common Stock outstanding. During 2019, the company issued another 24,000 shares and reacquired 2,900 of its own shares as Treasury Stock. As of 12/31/2019, what is the number of shares of the company's Common Stock that would be outstanding? a. 454.000 Ob 1,000,000 OC.436,100 od 451,100 e 1,021,100. QUESTION 11 How many of the following accounts are...
Dominica Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2020,...
Dominica Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2020, the company has the following stock transactions. Jan. 15 Issued 400,000 shares of stock at $7 per share. Sept. 5 Purchased 30,000 shares of common stock for the treasury at $9 per share. Journalize the transactions for Dominica Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)...
Mesa Company is authorized to issue 1,000,000 shares of its $5 par value common stock and...
Mesa Company is authorized to issue 1,000,000 shares of its $5 par value common stock and 600,000 shares of its $10 par value preferred stock. During 2018 – its first year of business - the company earned $650,000 of net income and had the following select transactions. No dividends were declared or paid throughout the year. The net income and events below are the only ones that impact Stockholders’ Equity this year. 1. Issued 300,000 shares of common stock for...
On 1/1/2019, Hedex, Inc. has 2,500,000 shares of Common Stock authorized, 820,000 shares of Common Stock...
On 1/1/2019, Hedex, Inc. has 2,500,000 shares of Common Stock authorized, 820,000 shares of Common Stock issued and 790,000 shares of Common Stock outstanding. During 2019, the company issued another 25,000 shares and reacquired 6,000 of its own shares as Treasury Stock. As of 12/31/2019, what is the number of shares of the company’s Common Stock that would be outstanding? a. 2,500,000. b. 809,000. c. 790,000. d. 2,519,000. e. 849,000.
Erie Company has 300,000 shares of authorized and issued common stock, $2 par. Additional paid in...
Erie Company has 300,000 shares of authorized and issued common stock, $2 par. Additional paid in capital for these shares amounts to $3,000,000. Record the following events: Dr. Cr. Mar 1, Purchased 15,000 shares of stock as treasury stock at $8 per share. Apr 1, Resold 1,000 shares of treasury stock into the market at $12 per share. May 1, Issued 5,000 treasury shares to employees at $7 per share, as part of an ESOP. That is, there is...
The Walton Firm has 1,000,000 common shares issued and outstanding. This stock was issued at a...
The Walton Firm has 1,000,000 common shares issued and outstanding. This stock was issued at a premium above its $10 per share par value. During the current fiscal year, the board of directors declared a 15 percent stock dividend that created 10,000 new shares issued to the existing stockholders when the price of the stock was $35 per share. Based on this information, what is the amount of the reduction recorded in stockholders' equity? a. $1,500,000 b. $3,500,000 c. $1,000,000...
On January 1, 2018, Windsor Corporation was authorized to issue 400,000 shares of common stock, par...
On January 1, 2018, Windsor Corporation was authorized to issue 400,000 shares of common stock, par value $12 per share, and 80,000 shares of 5 percent cumulative preferred stock, par value $25 per share. The preferred dividends are 2 years in arrears. Prepare Journal Entries to record the following 2018 transactions: 1. Windsor Corporation was granted a charter authorizing the issuance of 400,000 shares of common stock. 2. Issued 80,000 shares of common stock at $19 per share. 3. Issued...
Unit 7 Discussion Question Milton Company's charter authorizes 1,000,000 shares of common stock and 400,000 shares of preferred stock. In its first year of operations during 2018, the company presented the following transactions: • Issued 5,000 shares of common stock. Stock has par value of $0.01 per share and was issued at $30 per share. • Earned Net income $200,000 • Paid dividends of $5 per share. Required. 1. Prepare the journal entry to record the following: a. Common stock...
QUESTION TO On 1/1/2019, Heavens, Ltd. has 1,000,000 shares of Common Stock authorized, 430,000 shares of Common Stock issued and 415,000 shares of Common Stock outstanding. During 2019, the company issued another 24,000 shares and reacquired 2,900 of its own shares as Treasury Stock. As of 12/31/2019, what is the number of shares of the company's Common Stock that would be outstanding? a. 454.000 Ob 1,000,000 OC.436,100 od 451,100 e 1,021,100. QUESTION 11 How many of the following accounts are...
On January 1, 2018, Windsor Corporation was authorized to issue 400,000 shares of common stock, par value $12 per share, and 80,000 shares of 5 percent cumulative preferred stock, par value $25 per share. The preferred dividends are 2 years in arrears. Prepare Journal Entries to record the following 2018 transactions: 1. Windsor Corporation was granted a charter authorizing the issuance of 400,000 shares of common stock. 2. Issued 80,000 shares of common stock at $19 per share. 3. Issued...
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