On December 10, Daniel Co. split its stock 5-for-2 when the market value was P65 per share. Prior to the split, Daniel had 200,000 shares of P15 par value stock. After the split, Daniel's outstanding shares would be

On December 10, Daniel Co. split its stock 5-for-2 when the market value was P65 per share. Prior to the split, Daniel had 200,000 shares of P15 par value stock. After the split, Daniel's outstanding shares would be

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Taha Company announces a 4:1 stock split. Prior to the stock split, Taha had 1,000,000 shares of common stock outstanding and the par value was $0.20 per share. After the stock split, Taha would have: 4,000,000 outstanding shares with a par value of $0.05 per share. 250,000 outstanding shares with a par value of $0.05 per share. 250,000 outstanding shares with a par value of $0.80 per share. 4,000,000 outstanding shares with a par value of $0.80 per share.
On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market price of the stock is P50 per share. The company also has 50,000 ordinary shares in the treasury reacquired at a total cost of P1,650,000 On the same date, Funk Company declared a 1 for 5 share split. Immediately before the split, the total Share premium was P1,500,000. If half of the treasury shares were reissued at P10 per share, the entry to record the reissuance shall involve: Debit to Accumulated profits at P425,000. Credit to Share premium at P850,000. Debit to Accumulated profits at P850,000. Credit to Share premium at P425,000.
On September 15, YG Corporation splits up its share 2-for-5 when the market value was USD65 per share. Prior to the split, YG Corporation had 200,000 shares of USD15 par value stock. After the split, what is the par value of the stock and the number of stocks outstanding?
On February 11, Year 1, an individual 100 shares of stock at $10 per share. On June 11, Year 2, the individual sold the same 100 shares at $7 per share. What is the character of gain or loss on the sale? $300 long-term capital gain. $300 long-term capital loss. $300 short-term capital gain. $300 short-term capital loss
National Co. recently completed a 3-for-1 stock split. Prior to the split, the company had 10 million shares outstanding and its stock price was P150 per share. After the split, the total market value of the company’s stock equaled P1.5 billion. What was the price of the company’s stock following the stock split?
Un Deux Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and 300,000 shares of P30 par value ordinary shares. During the year, the company declared and paid a total cash dividend of P900,000. The corporation did not declare and pay any dividends last year. Required: For each of the following independent cases, compute the total dividends to be received by each class of share. 1. The preference share is non-cumulative and non-participating 2. The preference share is cumulative and non-participating 3. The preference share is non-cumulative and participating 4. The preference share is cumulative and participating
In September, the board of directors of chaparral steel approved a 2 for 1 stock split. After the split, how many shares of chaparral steel stock will an investor have if he or she owned 230 shares before the split?
VGG, Inc. declares a 2-for-5 stock split. The stock currently sells for $4 a share. A shareholder who owned 1000 shares of VGG stock prior to the split will now own OA. 2500 shares valued at about $1.60 a share. OB. 440 shares valued at about $1.60 a share. OC. 250 shares valued at about $11.60 a share. OD. 400 shares valued at about $10.00 a share.
National Company has 100,000 shares outstanding and just declared a 2-for-1 stock split. Before the announcement, the firm's shares were trading at P60.00 per share. After the stock dividend, the firm's shares should trade at ________ per share.
On July 1, 2021, Funk Company has 400,000 shares of P25 par ordinary outstanding and the market price of the stock is P50 per share. The company also has 50,000 ordinary shares in the treasury reacquired at a total cost of P1,650,000 On the same date, Funk Company declared a 1 for 5 share split. Immediately before the split, the total Share premium was P1,500,000. If half of the treasury shares were reissued at P10 per share, the entry to record the reissuance shall involve:A. Debit Accumulated profits of 425,000B. Credit to Share Premium at 850,000C. Credit to Share Premium at 425,000D. Debit Accumulated profits of 850,000 What should be the balance in Funk Company’s Ordinary share account after the share split is effected?
Whispering Ltd. began its latest fiscal year on January 1, 2020, with 12,000 common shares outstanding. On April 1, Whispering sold 3,300 additional common shares. The company declared and issued a 20% stock dividend on June 1. On July 1, Whispering repurchased and cancelled 220 common shares. An additional 3,750 common shares were issued on September 1. On November 1, Whispering declared and issued a 2-for-one stock split. On December 1, Whispering issued an additional 120 shares. Following the fiscal year, Whispering declared and issued a 3-for-one stock split on February 1, 2021. The company issued its 2020 financial statements on March 10, 2021.Calculate the weighted average number of common shares that Whispering should use for calculating its EPS numbers for 2020. Weighted average number of common shares Enter your answer in accordance to the question statement shares Please show how to calculate
Tutu Corp issues an 8% stock dividend to shareholders of record on July 8 at a time when the market price of the stock was $14 and although the shares were no par value, all 11,000,000 shares had been issued at $12. Multiple Choice a. Tutu would use the $14 and not the $12 as the basis for making its journal entries b. Choices a, b and c are all correct statements c. Tutu would debit Retained Earnings on the date of declaration d. Tutu would credit Stock Dividends on the date of declaration e. Choices a, b and c are all incorrect statements Please avoid plagiarism and give proper explanation thanku