Question
Selected transactions completed by primo discount corporation during the current fiscal year are as follows. Jan 9 Split common stock 3 for 1 and reduced
Selected transactions completed by primo discount corporation during the current fiscal year are as follows.
Jan 9 Split common stock 3 for 1 and reduced par from 75 to 25 per share . After split, there were 12,000,000 common shares outstanding.
Feb 28 Purchased 40000 shares of the corporations own common stock at 28 recording the stock at cost
May 1 Declared semiannual dividends of .80 on 75000 shares of preferred stock and .12 on common stock to stockholders of record on june 1, payable on july 10
July 10 Pay the cash dividen
Sep 7 Sold 30,000 shares of treasury stock at 34 recieving cash
Oct 1 Declared semi annual dividens of .80 on the preffered stock and .12 on the common stock (before the stock dividend). In addition, a 2% common stock dividend was declared on the common stock outstanding. The fair market value of common stock is estimated at 36
Dec 1 Paid the cash dividen and issued the certificates for common stock dividen
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