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I know how to do the first 4 question but don't know the remaining parts Question 2: Equity (15 points) LSK Inc. Balance Sheet (Equity
I know how to do the first 4 question but don't know the remaining parts
Question 2: Equity (15 points) LSK Inc. Balance Sheet (Equity section) as of Dec 31, 2019 Common Stock (3000 shares, par=0.018) 301 | 29,970 Retained Earnings 2,660 Total SE |32,660 Details (read these details extremely carefully) LSK Inc. started business on January, 2019 by issuing shares for cash in January, 2019 LSK Inc. issued a share dividend of 20% back in March, 2019 when the price was $10. LSK Inc. did not pay out cash dividends in 2019. Using the above details, answer the following: 1) Calculate LSK Inc.'s Earnings-per-share on December 31", 2019. (2.5 points) 2) LSK Inc. is performing well and its shares are worth $100 on the market on Jan 1", 2020. LSK Inc. decides to split its shares 10-to-1 on Jan 1", 2020. Record the journal entry. (1.5 points) 3) Calculate LSK Inc.'s shares new market value per share on Jan 1".2020 after the 10- to-1 split. (1.5 points) 4) Calculate the price that LSK Inc. issued shares for on January 1", 2019 (1.5 points) 5) Calculate the split and dividend adjusted price of LSK Inc.'s shares on January 26, 2020 using the market value calculated above in (3) (2 points) 6) Record the journal entry on January 1", 2019 for LSK Inc. issuing shares (2 points) 7) LSK Inc. buys back 1,000 of its outstanding shares on October 31", 2020. The price of the stock on the market is $12 on October 31", 2020. Record the journal entry (1.5 points) 8) The Retained Earnings balance is reported at $5,000 on December 31", 2020. Calculate the EPS of LSK Inc. on December 31", 2020. (2.5 points) 2660 130- 0.886667 2) Dr Common Stock 30 Co Common stock 30 3) 100/10 - = $10 4) Common stock = 30 APIC= 29970 Shares Bsued = 30000 stock prize - 30000 / 3000 = $10 Step by Step Solution
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