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Question # 3 : Splits Unlimited [ 1 2 Marks ] ( 1 8 Minutes ) SCENARIO A On January 1 , 2 0 2
Question #: Splits Unlimited Marks Minutes SCENARIO A On January Splits Unlimited SL had shares outstanding for $ and a contributed surplus amount of $ on its balance sheet. On May SL issued shares for $ per share. On November SL purchased and retired shares paying $ per share. Required: Prepare all journal entries for SCENARIO B On January LS Limited LS had common shares outstanding and $ cumulative preferred shares outstanding. The preferred share dividends are two years in arrears. No dividends have been declared this year. On March LS issued common shares. On August LS declared a for stock split effective August On December net income for LS was $ Required: Calculate earnings per share for the year. Show all relevant work.
Question #: Splits Unlimited Marks Minutes
SCENARIO A
On January Splits Unlimited SL had shares outstanding for $ and a contributed surplus amount of $ on its balance sheet. On May SL issued shares for $ per share. On November SL purchased and retired shares paying $ per share.
Required:
Prepare all journal entries for
SCENARIO B
On January LS Limited LS had common shares outstanding and $ cumulative preferred shares outstanding. The preferred share dividends are two years in arrears. No dividends have been declared this year.
On March LS issued common shares.
On August LS declared a for stock split effective August
On December net income for LS was $
Required:
Calculate earnings per share for the year. Show all relevant work.
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