Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

7. A company had 166000 shares authorized, 99600 shares issued and 89320 shares outstanding of $9 par common stock. On November 1, the company decides

image text in transcribed
image text in transcribed
7. A company had 166000 shares authorized, 99600 shares issued and 89320 shares outstanding of $9 par common stock. On November 1, the company decides to give a $2.2 per share cash dividend to shareholders as of November 20 to be paid November 30 . Prepare the journal entries necessary for each date (if not entry is required that date, make a note a journal entry is not required). 8. A company has 12900 shares of $20 par common stock authorlzed, Issued, and outstanding. If the company decides to do a 4-1 stock split, show the effecs on the shares, par value; and the total dollar amount of common stock? Authorized, issued and outstanding shares: Par Value: Total Common Stock

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Auditing

Authors: Graham Cosserat

1st Edition

0471810584, 9780471810582

More Books

Students also viewed these Accounting questions