The shareholders' equity section of Mountvale Associated is as follows: The following selected transactions occurred during 2012:1.
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The shareholders' equity section of Mountvale Associated is as follows:
The following selected transactions occurred during 2012:1. 1/1/12: A 20 percent stock dividend was issued. The fair market value of the stock at the time was $3 per share.2. 8/25/12: Land was purchased in exchange for 6,000 shares of common stock. The fair market value of the stock was $3 per share.3. 12/31/12: Common stock was issued for cash.RequiredHow many shares of common stock did Mountvale issue on December 31, 2012, and how much cash did the issuance generate? Show all calculations clearly.
DividendA dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Total number of shares issued during 2012 Change in balance of common stock account Par value per sh...View the full answer
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