Nash Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000 shares of $12 par common stock. At no time has Nash issued any potentially dilutive securities. Listed below is a summary of Nash’s common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 1,990,000 2. Shares issued as a result of a 12% stock dividend on September 30, 2019 238,800 3. Shares issued for cash on March 31, 2020 2,000,000 Number of common
Nash Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000 shares of $12 par common stock. At no time has Nash issued any potentially dilutive securities. Listed below is a summary of Nash’s common stock activities. 1. Number of common shares issued and outstanding at December 31, 2018 1,990,000 2. Shares issued as a result of a 12% stock dividend on September 30, 2019 238,800 3. Shares issued for cash on March 31, 2020 2,000,000 Number of common
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 56CE
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Nash Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000 shares of $12 par common stock. At no time has Nash issued any potentially dilutive securities. Listed below is a summary of Nash’s common stock activities.
1. | Number of common shares issued and outstanding at December 31, 2018 |
1,990,000
|
||
2. | Shares issued as a result of a 12% stock dividend on September 30, 2019 |
238,800
|
||
3. | Shares issued for cash on March 31, 2020 |
2,000,000
|
||
Number of common shares issued and outstanding at December 31, 2020 |
4,228,800
|
|||
4. | A 2-for-1 stock split of Nash’s common stock took place on March 31, 2021 |
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