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could someone help me with a c and d??? plz help On January 1, 2013, Leung and Wong organized their company LW Inc., as a
could someone help me with a c and d???
plz help
On January 1, 2013, Leung and Wong organized their company LW Inc., as a corporation. The company has December 31 fiscal-year end date. On January 1, 2013, the corporation issued a total of 5,000 common shares at $10 per share. Each shareholder received 2,500 shares. On July 2, 2013 the corporation issued an additional 2,500 common shares to a new shareholder named Lee for total proceeds of $25,000. The company reported a net income of $159,375 for the year ended December 31, 2013. The company declared and paid 10% stock dividend to their existing shareholders on December 31, 2013. The total amount of the stock dividend paid was worth $7,500. On July 3, 2014 the corporation issued an additional 2,700 common shares to a new shareholder named Ryan for total proceeds of $54,000. Cash dividend for all existing shareholders was declared on December 1, 2014. Assume that the record date is December 15, 2014. The dividend was paid on January 15, 2015. A cash dividend amount was $1.15 per share for common shares. a Four-for-one stock split occurred for common shares on January 1, 2015. a. The market value per each common share on December 31, 2014 was $150 per share. What is the reported value of the common shares that would appear on the company's Statement of Financial Position as at December 31, 2014? 136,500 (2 mark) c. What is the number of outstanding common shares on December 31, 2014? 10950 (2 mark) d. What is the number of outstanding common shares on January 1, 2015 after taking the stock split into consideration? 43800 (2 mark)Step by Step Solution
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