Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Last Whale, Corp. reported the following information from the Stockholders Equity section of their balance sheet as of June 1, 2021: Common Stock: $300

The Last Whale, Corp. reported the following information from the Stockholders Equity section of their balance sheet as of June 1, 2021: Common Stock: $300 ($0.01 par value; 980,000 shares authorized, 30,000 shares issued and outstanding as of 6/1/21); Additional Paid-in Capital: $124,633; Retained Earnings: $90,245

During the June 2021, The Last Whale completed these transactions that affected Stockholders Equity:

  • On June 2nd, issued 1,900 shares of Common Stock for $25 per share.
  • On June 5th, declared a cash dividend of $0.25 per common share, payable to all stockholders of record on June 10th.
  • On June 18th, paid the cash dividend declared on June 5th.
  • On June 20th, issued 2,400 shares of Common Stock for $30 per share.
  • On June 28th, reacquired 3,600 shares of common stock as Treasury Stock, paying $32 per share.

The number of shares of Common Stock that would be outstanding as of June 30, 2021 would be:

Group of answer choices

30,000

26,400

37,900

30,700

34,300

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

ISE International Accounting

Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera

5th Edition

1260547981, 9781260547986

More Books

Students also viewed these Accounting questions

Question

=+c) Compute the RRRs. Which action is preferred based on the RRRs?

Answered: 1 week ago

Question

7 Name at least three selection methods.

Answered: 1 week ago

Question

9 What is meant by the processual approach?

Answered: 1 week ago