Lucky Corporation began the year with a simple capital structure consisting of $240,000 shares of outstanding common stock. On April 1,---5000 additional common shares were issued, and another 30,000 common shares were issued on August 1. The company had net income for the year $589,375.   Required Calculate the earnings per share of common stock.

Spring Company is authorized to issue 7500,000 shares of $2 par value common stock. In its first year, the company has the following transactions: March 1: Issued 400,000 shares of stock at $9.75 per share June 15:  Purchased 10,000 shares of treasury stock for $9 per share Sept 1: Declared a cash dividend of 10-cents per share on common stock Sept. 15:  Record date for cash dividend Oct, 1:  Paid cash dividend Journalize the transactions.

OM, Inc. was organized on January 1, 20X7. The firm was authorized to issue 1,000,000 shares of $2 par value common stock.  During 20X7, OM had the following transactions relating to stockholders' equity:  Issued 20,000 shares of common stock at $7 per share. Issued 40,000 shares of common stock at $8 per share. Reported a net income of $100,000. Paid dividends of $50,000. What is the total amount recorded in the Common Stock account at the end of 20X7?

Milo Co. had 795,000 shares of common stock outstanding as of January 1. On May 1, they issued 145,000 shares of common stock. On September 1, Milo Co. purchased 61,000 shares of treasury stock. On November 1, they issued 59,000 shares of common stock. Calculate the weighted average shares outstanding for the year.

Prepare the journal entries for these transactions, assuming that the common stock has a par value of $4 per share. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Cre (a) > >

Agri Gold Ltd. began operations on January 1, 1983 by issuing 54,000 common shares at $13 per share and 26,000 $8 cumulative preferred shares at $20 per share. During 1983 Agri Gold Ltd issued an additional 8,000 common shares at $11 per share and 2,000 preferred shares at $30 per share. 2019 profit was $355,000 and the Board declared $81,000 in dividends. Required: Prepare the Shareholders' Equity section of Agri Gold Ltds Balance Sheet at December 31, 1983.

Choctaw Company completed the following transactions in Year 1, the first year of operation: 1. Issued 20,000 shares of $10 par common stock for $10 per share. 2. Issued 3,000 shares of $20 stated value preferred stock for $20 per share. 3. Purchased 1,000 shares of common stock as treasury stock for $12 per share. 4. Declared a $2,000 cash dividend on preferred stock. 5. Sold 500 shares of treasury stock for $14 per share. 6. Paid $2,000 cash for the preferred dividend declared in Event 4. 7. Earned cash revenues of $78,000 and incurred cash expenses of $41,000. 8. Closed revenue, expense, and dividend accounts to the retained earnings account. 9. Appropriated $8,000 of retained earnings. Required a-1. Prepare journal entries to record these transactions. a-2. Post the entries to T-accounts. b. Prepare a balance sheet as of December 31, Year 1.