The following information is about Jennings Corporation's shareholders' equity. For each of the following proposed events, determine
Question:
The following information is about Jennings Corporation's shareholders' equity. For each of the following proposed events, determine the impact on each of the items described and keep a running balance of the changes.
![The following information is about Jennings Corporation’s shareholders’ equity. For](https://dsd5zvtm8ll6.cloudfront.net/si.question.images/image/images7/423-B-A-E(1452).png)
Transcribed Image Text:
Event Par Valuo Authorizod Issuod Outstanding Total Par Per Share Shares Shares Shares Value $1 2000000 600,000 600,000$600,000 1. Issue 10,000 shares of 2. Purchase 5,000 shares 3. Sell 1,000 shares common stock of Jennings common stock of treasury stock 4. Declare and distribute a 2-for-I stock split
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Par Authorized Issued Outstanding Total Par 1 1 2000000 610000 610000 6100...View the full answer
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Related Book For
Introduction to Accounting An Integrated Approach
ISBN: 978-0078136603
6th edition
Authors: Penne Ainsworth, Dan Deines
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