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How do I solve question # 6? 5. Under what section should treasury stock be reported on the balance sheet? Also at what amount should
How do I solve question # 6?
5. Under what section should treasury stock be reported on the balance sheet? Also at what amount should it be shown? Stockholders' equity $ 78,000 6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, calculate the par value per share and the number of outstanding shares. Par value per share Shares outstanding S 5 103,000 X 7. Assuming the stock split mentioned above, prepare any journal entry that should be made. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction General Journal Debit Credit 1 1 No journal entry required 8. Disregard the stock split (assumed above). Assume instead that a 10 percent stock dividend was declared and issued (after treasury stock repurchase) when the market price of the common stock was 520. Prepare any journal entry that should be made. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data: Common stock (par $10), no changes account during the year. Shares authorized, 280,000. Shares Issued: (all shares were issued at $20 per share. Total cash collected: $2,140,000 Treasury stock: 4,000 shares (repurchased at $19 per share). The treasury stock was acquired after a stock split was announced. Net income, $202,910. Dividends declared and paid: $112,270. Retained earnings beginning balance: $635,000. Required: 1. Complete the following tabulation: Shares authorized Shares issued Shares outstanding 280,000 107.000 103.000 2. What is the balance in the Additional Paid-in Capital account Additional paid in capital 1.070.00 3. What earnings per share (EPS). (Round your answer to 2 decimal places.) Earnings per share S 1.97 4. What was the dividend paid per share. (Round your answer to 2 decimal places.) Dividend per share s 1.09Step by Step Solution
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