Nevada Corporation has 67,450 shares of $22 par stock outstanding that has a current market value of $189 per share. If the corporation issues a 5-for-1 stock split, the number of shares outstanding will be Oa. 13,490 Ob. 67,450 Oc. 337,250 Od. 741,950
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- Effective May 1, the shareholders of Baltimore Corporation approved a 2-for-1 split of the companys common stock and an increase in authorized common shares from 100,000 shares (par value 20 per share) to 200,000 shares (par value 10 per share). Baltimores shareholders equity items immediately before issuance of the stock split shares were as follows: What should be the balances in Baltimores Additional Paid-in Capital and Retained Earnings accounts immediately after the stock split is effected?Alert Companys shareholders equity prior to any of the following events is as follows: The company is considering the following alternative items: 1. An 8% stock dividend on the common stock when it is selling for 30 per share. 2. A 30% stock dividend on the common stock when it is selling for 32 per share. 3. A special stock dividend to common shareholders consisting of 1 share of preferred stock for every 100 shares of common stock. The preferred stock and common stock are selling for 123 and 31 per share, respectively. 4. A 2-for-1 stock split on the common stock, reducing the par value to 5 per share (assume the same date for declaration and issuance). The market price is 30 per share on the common stock. 5. A property dividend to common shareholders consisting of 100 bonds issued by West Company. These bonds are carried on the Alert Company books as an available-for sale investment at a fair value of 48,000 (which is also its cost); it has a current value of 54,000. 6. A cash dividend, consisting of a normal dividend and a liquidating dividend, on both the preferred and the common stock. The 10% preferred dividend includes a 2% liquidating dividend, and the 2.30 per share common dividend includes a 0.30 per share liquidating dividend (separate liquidating dividend contra accounts should be used). Required: For each of the preceding alternative items: 1. Record (a) the journal entry at the date of declaration and (b) the journal entry at the date of issuance. 2. Compute the balances in the shareholders equity accounts immediately after the issuance (any gains or losses are to be reflected in the retained earnings balance; ignore income taxes).Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the company has the following transaction: Mar. 1, issued 500,000 shares of stock at $15.75 per share for cash to investors. Journalize this transaction.
- Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue 500,000 shares of $100 par value 8% cumulative preferred stock. It is also authorized to issue 750,000 shares of $6 par value common stock. It has issued 50,000 of the common shares and 1,000 of the cumulative preferred shares. The corporation has never declared a dividend and the preferred shares are one years in arrears. Aggregate Mining has the following transactions this year: Journalize these transactions. For the stock split, show the calculation for how many shares are outstanding after the split and the par value per share after the splitOutstanding Stock Lars Corporation shows the following information in the stockholders equity section of its balance sheet: The par value of common stock is S5, and the total balance in the Common Stock account is $225,000. There are 13,000 shares of treasury stock. Required: What is the number of shares outstanding? Use the following information for Exercises 10-58 and 10-59: Stahl Company was incorporated as a new business on January 1, 2019. The company is authorized to issue 600,000 shares of $2 par value common stock and 80,000 shares of 6%, S20 par value, cumulative preferred stock. On January 1, 2019, the company issued 75,000 shares of common stock for $15 per share and 5,000 shares of preferred stock for $25 per share. Net income for the year ended December 31, 2019, was $500,000.Nevada corporation has 52,128 shares of $21 par stock outstanding that has a current market value of $207 per share. If the corporation issues a 5-for-1 stock split, the number of shares outstanding will be a.260,640 b.10,426 c.547,344 d.52,128
- Nevada corporation has 49,801 shares of $28 par stock outstanding that has a current market value of $138 per share. If the corporation issues a 5-for- 1 stock split, the number of shares outstanding will be Oa. 49,801 Ob. 249,005 Oc. 697,214 Od. 9,960Nevada Corporation has 65,772 shares of $23 par stock outstanding that has a current market value of $266 per share. If the corporation issues a 5-for-1 stock split, the number of shares outstanding will be Oa. 13,154 Ob. 328,860 O c. 756,378 Od. 65,772 AA corporation has 48,602 shares of $21 par stock outstanding that has a current market value of $372 per share. If the corporation issues a 4-for-1 stock split, the market value of the stock will fall to approximately Oa. $93.00 Ob. $5.25 Oc. $1,488.00 Od. $351.00
- Nevada Corporation has 68,200 shares of $25 par stock outstanding that has a current market value of S136. If the corporation issues a 5-for-1 stock split, the number of shares outstanding will be a.852,500 b.68,200 c.341,000 d.272,800A corporation has 52,241 shares of $23 par stock outstanding that has a current market value of $304 per share. If the corporation issues a 4-for-1 stock split, the market value of the stock will fall to approximately a. $1,216.00 O b. $76.00 O c. $5.75 Od. $281.00A corporation has 71,868 shares of $36 par stock outstanding that has a current market value of $312 per share. If the corporation issues a 4-for-1 stock split, the market value of the stock will fall to approximately a.$17,967 b.$9 c.$78 d.$276
