question 1

question 2

Willey's Grill \& Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willey's Grill \& Restaurant, which had 72,000 shares of common stock outstanding, declared a 3-for-1 stock split. a. What will be the number of shares outstanding after the split? shares b. If the common stock had a market price of $192 per share before the stock split, what would be an approximate market price per share after the split? per share On January 22, Zentric Corporation issued for cash 263,000 shares of no-par common stock at $25. On February 14 , Zentric issued at par value 5,000 shares of preferred 7% stock, $60 par for cash. On August 30 , Zentric issued for cash 29,000 shares of preferred 7% stock, $60 par at $109. Journalize the entries to record the January 22, February 14, and August 30 transactions. EQUITY 236 Stock Dividends Distributable 311 Common Stock 313 Paid-In Capital in Excess of Stated Value-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-in Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends Question not attempted. EQUITY 236 Stock Dividends Distributable 311 Common Stock 313 Paid-In Capital in Excess of Stated Value-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-in Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352. Stock Dividends