On January 1, 2021. Hum Enterprises Inc. had 80.000 common shares, recorded at $560,000. The company follows IFRS. During the year, the following transactions occurred: Apr. 1 June 15 Declared a 5% stock dividend to shareholders of record on September 5, distributable on September 20. The shares were trading for $11 a share at this time. Sep. 21 Nov 1 Announced a 1-for-2 reverse stock split. Shares were trading at 59 per share at the time. Dec. 20 Issued 4,000 common shares at $9 per share. Issued 3,000 common shares at $20 per share. Repurchased 10,000 common shares for $18 per share. This was the first time Hum had repurchased its own shares. Record each of the transactions. Keep a running balance of the average per share amount of the common shares.
On January 1, 2021. Hum Enterprises Inc. had 80.000 common shares, recorded at $560,000. The company follows IFRS. During the year, the following transactions occurred: Apr. 1 June 15 Declared a 5% stock dividend to shareholders of record on September 5, distributable on September 20. The shares were trading for $11 a share at this time. Sep. 21 Nov 1 Announced a 1-for-2 reverse stock split. Shares were trading at 59 per share at the time. Dec. 20 Issued 4,000 common shares at $9 per share. Issued 3,000 common shares at $20 per share. Repurchased 10,000 common shares for $18 per share. This was the first time Hum had repurchased its own shares. Record each of the transactions. Keep a running balance of the average per share amount of the common shares.
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 1MP: Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--,...
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On January 1, 2021. Hum Enterprises Inc. had 80.000 common shares, recorded at $560,000. The company follows IFRS. During the year, the following transactions occurred: Apr. 1 June 15 Declared a 5% stock dividend to shareholders of record on September 5, distributable on September 20.
The shares were trading for $11 a share at this time. Sep. 21 Nov 1 Announced a 1-for-2 reverse stock split. Shares were trading at 59 per share at the time.
Dec. 20 Issued 4,000 common shares at $9 per share.
Issued 3,000 common shares at $20 per share.
Repurchased 10,000 common shares for $18 per share.
This was the first time Hum had repurchased its own shares.
Record each of the transactions. Keep a running balance of the average per share amount of the common shares.
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