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back side please 6) Richards Corporation has 24,000 shares of $20 par value common stock outstanding. The corporation announces a 4 -for-1 stock split. What
back side please
6) Richards Corporation has 24,000 shares of $20 par value common stock outstanding. The corporation announces a 4 -for-1 stock split. What is the effect of the split? 7) On April 1, Flounder Corporation purchased 5,000 shares of its own stock for $35,000 cash, On April 15th, the Corporation reissued 1,000 shares of its treasury stock for $8,000. Prepare the April 1st and April 15th journal entry to record the purchase and reissuance of treasury stock. 8) A corporation had net income of $140,000 for 2023. The corporation had 10,000 shares of common stock outstanding at the beginning of the year and 20,000 shares of common stock outstanding at the end of the year. There were 14,000 shares of preferred stock outstanding all year and preferred dividends totaled $10,000. What is the corporation's earnings per share? 9) Beginning retained earnings of a corporation is $100,000. During the year, the corporation reported net loss of $50,000 and declared and paid $25,000 of cash dividends. What is the ending retained earnings balance of the corporation? 10) Prepare the stockholders' equity section of a balancve sheet based on the following transactions: a. Issued 3,000 shares of $4 par value common stock for $10.20,000 shares were authorized. b. Issed 1,000 shares of 10%,$5 par value preferred stock for $20.20,000 shares were authorized. c. Reacquired 400 shares of stock for $20. d. Retained earnings is impacted by reporting net income of $30,000 and cash dividends of $10,000,00 Step by Step Solution
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