Question
Consider the following partial balance sheet for Beal Corp. Beal Corp. Balance Sheet (partial) as of December 31, 2022 Stockholders' equity Common stock, $10 par
Consider the following partial balance sheet for Beal Corp.
Beal Corp.
Balance Sheet (partial) as of December 31, 2022
Stockholders' equity
| Common stock, $10 par value, 2,000,000 shares authorized 720,000 shares issued. | $7,200,000 |
| Paid in capital in excess of par | 10,449,000 |
| Retained earnings | 10,223,000 |
| Treasury stock, 39,000 common shares, at cost | (909,000) |
During 2023, Beal had the following stock transactions:
February 22: Issued 39,000 common shares for cash.
June 19: Executed a 2-for-1 stock split.
October 13: Purchased 18,000 shares of common stock for the treasury.
How many shares of common stock are outstanding at December 31, 2023?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Primary English Audit And Test
Authors: Sue Reid, Angela Sawyer, Mary Bennett-Hartley
4th Edition
1446282759, 978-1446282755
