E11-1 (Algo) Computing Shares Outstanding LO11-1In a recent annual report, Rosh Corporation disclosed that 62,000,000 shares of common stock have been authorized. At thebeginning of the fiscal year, a total of 36,556,357 shares had been issued and the number of shares in treasury stock was 7,371,269.During the year, 568,765 additional shares were issued, and the number of treasury shares increased by 3,134,188.Determine the number of shares outstanding at the end of the year.Note: Amounts to be deducted should be indicated by a minus sign.Computation of Shares OutstandingIssued sharesTreasury stockShares outstanding0

Shares outstanding means the number of shares that are held by the entity. These can be determined…

Answered: In a recent annual report, Rosh…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

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Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 27CE: Calculating the Number of Shares Issued Castalia Inc. issued shares of its $0.80 par value common...

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St. Marie Company is authorized to issue 1,000,000 shares of $5 par value preferred stock, and 5,000,000 shares of $1 stated value common stock. During the year, the company has the following transactions: Journalize the transactions.
Anslo Fabricating, Inc. is authorized to issue 10,000,000 shares of $5 stated value common stock. During the year, the company has the following transactions: Journalize the transactions.
Calculating the Number of Shares Issued Castalia Inc. issued shares of its $0.80 par value common stock on September 4, 2019, for $8 per share. The Additional Paid-In Capital-Common Stock account was credited for 5612,000 in the journal entry to record this transaction. Required: How many shares were issued on September 4, 2019?
Outstanding 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.
E11-3 Preparing the Stockholders' Equity Section of the Balance Sheet North Wind Aviation received its charter during January authorizing the following capital stock: Preferred stock: 8 percent, par $10, authorized 20,000 shares. Common stock: par $1, authorized 50,000 shares. The following transactions occurred during the first year of operations in the order given: a. Issued a total of 40,000 shares of the common stock for $15 per share. b. Issued 10,000 shares of the preferred stock at $16 per share. C. Issued 3,000 shares of the common stock at $20 per share and 1,000 shares of the preferred stock at $16. Net income for the first year was $48,000, but no dividends were declared. d. Required: Prepare the stockholders' equity section of the balance sheet at December 31. LO 11 ARE
E11-3 (Algo) Preparing the Stockholders' Equity Section of the Balance Sheet [LO 11-2, LO 11-4] North Wind Aviation received its charter during January authorizing the following capital stock:Preferred stock: 8 percent, par $10, authorized 20,000 shares.Common stock: par $1, authorized 50,000 shares. The following transactions occurred during the first year of operations in the order given: Issued a total of 41,000 shares of the common stock for $16 per share. Issued 11,000 shares of the preferred stock at $17 per share. Issued 3,100 shares of the common stock at $21 per share and 1,100 shares of the preferred stock at $17. Net income for the first year was $49,000, but no dividends were declared.
E11-3 During its first year of operations, Foyle Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 70,000 shares for cash at $5 per share. July 1 Issued 40,000 shares for cash at $7 per share. Instructions (a) Journalize the transactions, assuming that the common stock has a par value of $5 per share. (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share.
ALI Company issued 120,000 ordinary shares, of which 5,000 shares were held as treasury on January 1, 2020. The following were the transactions during the year: May 1 1,000 treasury shares were sold. Aug 1 10,000 unissued shares were sold. Nov 15 A 2 for 1 share split took effect. Determine the number of shares issued and outstanding on December 31, 2020.a. 122,000b. 126,000c. 252,000d. 260,000e. answer not given
Required information E11-2 (Algo) Reporting Stockholders' Equity and Determining Dividend Policy [LO 11-2, LO 11-3] [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,200 shares of common stock for cash at $22 per share. b. Issued 2,200 shares of common stock for cash at $25 per share. E11-2 (Algo) Part 4 4. Incentive Corporation has $32,000 in the company's bank account. At year-end, the accounts reflected a profit of $300. What is the maximum amount of cash dividends the company can declare and distribute? Maximum amount of cash dividends
On Jan. 1, 2018, the following accounts and their balances appeared in the ledger of Fuentes Corporation: Preference P9 Shares, P100 par, 10,000 shares authorized, 5,000 shares issued P 500,000 Share Premium-Preference 80,000 Ordinary Shares, P20 par, 100,000 shares authorized, 75,000 shares issued 1,500,000 Share Premium-Ordinary 125,000 Retained Earnings…
Riverbed Company had 826000 shares of common stock outstanding on January 1, issued 365000 shares on April 1 and purchased 27000 shares of treasury stock on December 1. The weighted average shares outstanding for the year is (Round intermediate calculation to O decimal places, e.g. 1,525.) Ⓒ1097500 O 872500 1164000 O 1188750.
CarFind Inc. showed the following equity information at December 31, 2022. Common shares, unlimited shares authorized; 4,500,000 shares issued and outstanding Retained earnings $1,115,000 1,322,500 On April 1, 2023, 250,000 common shares were issued at $0.80 per share. On June 1, the board of directors declared a 10% share dividend to shareholders of record on June 15; the distribution date was July 1. The market prices of the shares on June 1, June 15, and July 1 were $2.98, $1.96, and $2.56, respectively. On December 11, the board of directors declared a 2:1 share split to shareholders of record on December 15; the distribution date was December 20. Profit earned during the year was $1,505,000. Required: Prepare the company's equity section on the December 31, 2023, balance sheet. Total equity CARFIND INC. Equity Section of Balance Sheet December 31, 2023 Contributed capital: Common shares, unlimited shares authorized, 10,450,000 shares issued and outstanding Retained earnings $ 0

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