Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please show work International Business Machines Corporation (IBM) develops and manufactures information technology products and services worldwide. IMB's 2008 10-K provided the following information regarding

image text in transcribed

please show work

International Business Machines Corporation (IBM) develops and manufactures information technology products and services worldwide. IMB's 2008 10-K provided the following information regarding its common shares. IBM, INC. STOCKHOLDERS' EQUITY AS OF December 31, 2008 $ in millions Common stock, par value .20 per share and additional paid-in capital Shares authorized Shares issued Shares in treasury: 4,687 million 2008-2,097 million, 2007 2,057 million 2008 757 million, 2007 672 million If IBM issues an additional 10 million shares of common stock then: F.1 Common shares outstanding will (increase/ decrease/remain the same) F.2 Earnings per share will (increase/ decrease / remain the same) F.3 Shares authorized will (increase/ decrease/ remain the same) and Shares issued will (increase / decrease/ remain the same) On January 1, 2016, Fong Inc. had these stockholders' equity balances Common Stock, $1 (2,000,000 shares authorized, 600,000 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings $600,000 $400,000 $100,000 During 2016, the following transactions and events occurred Issued 50,000 shares of $1 par value common stock for $4 per share . Purchased 100,000 shares of common stock for the treasury at $2.50 per share . Declared and paid a cash dividend of $50,000 Earned net income of $175,000 F.4 F.5 F.6 F.7 Common Stock at 12/31/2016 Paid-in Capital In Excess of Par Value Treasury Stock at 12/31/2016 Retained Earnings at 12/31/2016 $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Knowledge Audit A Complete Guide

Authors: The Art Of Service - Knowledge Audit Publishing

2021 Edition

1867424010, 978-1867424017

More Books

Students also viewed these Accounting questions

Question

c. What were you expected to do when you grew up?

Answered: 1 week ago