The charter of a corporation provides for the issuance of 116,962 shares of common stock. Assume that 44,382 shares were originally issued and 3,124 were subsequently reacquired. What isthe amount of cash dividends to be paid if a $3 per share dividend is declared?Oa. $123,774Ob. $9,372Oc. $133,146Od. $350,886

Cash dividend will be paid for shares issued Less shares reacquired

Answered: The charter of a corporation provides…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The charter of a corporation provides for the issuance of 120,000 shares of common stock. Assume that 45,000 shares were originally issued and 6,100 were subsequently reacquired. What is the number of shares outstanding? a.38,900 b.6,100 c.51,100 d.45,000
5A. What is the number of ORDINARY shares outstanding? 5B. What is the number of PREFERENCE shares outstanding?
Question 3 (Statement of shareholders’ equity): Below is the statement of shareholder’s equity of HKU Ltd.: The following transactions happen during 20X2: (a) Issuance of ordinary shares - 800 shares @ $23 per share (b) Repurchase 600 shares of preference share at $45 per share, out of share capital (c) Issue 4 bonus ordinary shares for each 10 ordinary shares. The company has decided to capitalize 1/5 of its beginning balance of the retained profits for this bonus share issuance. (d) Net income is $70,000 for the year. Prepare the statement of shareholders’ equity for year 20X2.
A corporation has the following account balances: Common Stock. $1 par value, $80000; Paid-in Capital in Excess of Par Value, $2710000. Based on this information, the O average price per share issued is $3.49. O number of shares issued is 80000 O number of shares outstanding is 2790000. O legal capital is $2790000.
A corporation issues 4,550 shares of common stock $145,600. The stock has a stated value of $19 per share. What amount of credit to Common Stock would the journal entry to record the stock issuance include? Select the correct answer. $145,600 $59,150 $86,450 $4,550
Authorized shares are the a) Number of shares that have been distributed to shareholders b) Total number of shares that can be issued by the company at any time c) Number of shares that are owned by shareholders at the balance sheet date d) Number of shares the company has repurchased
The charter of a corporation provides for the issuance of 117,000 shares of common stock. Assume that 56,000 shares were originally issued and 13,700 were subsequently reacquired. What is the number of shares outstanding? a.56,000 b.13,700 c.42,300 d.117,000
The charter of a corporation provides for the issuance of 111,000 shares of common stock. Assume that 59,000 shares were originally issued and 5,100 were subsequently reacquired. What is the number of shares outstanding? Select the correct answer. 64,100 59,000 53,900 5,100
A corporation has issued 50,000 shares of $100 par common stock and holds 6,000 of these shares as treasury stock. If the corporation declares a $2 per share cash dividend, what amount will be recorded as cash dividends? Group of answer choices $44,000 $88,000 $96,000 $100,000
10
H7. The charter of a corporation provides for the issuance of 147,000 shares of common stock. Assume that 55,000 shares were originally issued and 11,500 were subsequently reacquired. What is the number of shares outstanding? a. 43,500 b. 55,000 c. 147,000 d. 11,500 Please show all step by step calculation

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