Question
At the beginning of Year 1 the company had 10,000,000 shares authorized and 250,000 issued and outstanding. The following transactions happened in Year 1:
At the beginning of Year 1 the company had 10,000,000 shares authorized and 250,000 issued and outstanding. The following transactions happened in Year 1: 1. March: The company declared a 4:2 stock split 2. May: The company repurchased 40,000 shares of stock 3. November: The company resold 5,000 shares of the stock repurchased in May How many shares are issued at the end of Year 1?
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
16th edition
0077664078, 978-0077664077, 78111048, 978-0078111044
