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Presented below is information related to NewCo Corp shareholder transactions during 2 0 2 3 : 1 . On January 1 , the company was
Presented below is information related to NewCo Corp shareholder transactions during :
On January the company was formed, and was authorized to issue shares of $ par value common stock.
On January shares were issued for $ per share.
On March NewCo issued a : stock split, in the form of a stock dividend, when the shares were valued at $ per share.
On April NewCo issued and distributed a stock dividend, when the shares were valued at $ per share. Shareholders with fractional shares were paid cash totaling equivalent whole shares
On June NewCo declared a cash dividend of $ payable to the shareholders of record on July to be paid on July
On August the company purchases shares of the common stock outstanding at $ per share and retired the shares.
On August the company purchases shares of the common stock outstanding at $ per share and retired the shares.
On December the board of directors declared a property dividend consisting of corporate bonds of Lopez Corporation that NewCo Corp was holding as an investment. The bonds were originally purchased for $ million were classified as heldtomaturity investments. The bonds currently have a fair value of $ million. The property dividend was payable to shareholders of record December and distributed on December
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a Prepare the general journal entries necessary to record these transactions. Identify each transaction by the date, and if no entry is required, write No Entry.
b How many shares were outstanding as of December
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