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Rudd Corp. had 700,000 shares of common stock authorized and 300,000 shares outstanding at December 31,...

Rudd Corp. had 700,000 shares of common stock authorized and 300,000 shares outstanding at December 31, Year 3. The following events occurred during Year 4:

January 31

Declared 10% stock dividend

June 30

Purchased 100,000 shares

August 1

Reissued 50,000 shares

November 30

Declared 2-for-1 stock split

At December 31, Year 4, how many shares of common stock did Rudd have outstanding?

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Answer #1

Calculate Common Stock outstanding

Outstanding share 300000
Jan 31 (300000*10%) 30000
Treasury Stock -100000
reissued 50000
Stock split (280000*1) 280000
Total Common Stock outstanding 560000
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