TB MC Qu. 11-55 (Static) Galveston, Incorporated has 308,000 shares.... Galveston, Incorporated has 308,000 shares authorized, 140,000 shares issued, and 14,000 shares of treasury stock. How many shares are outstanding? Multiple Choice 434,000 406.000 154,000 126,000
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- TB EX Qu. 10-162 (Algo) Diane's Designs has two classes of stock... Diane's Designs has two classes of stock authorized: 7%, $10 par value preferred and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 1 Issue 200,000 shares of common stock for $18 per share. Issue 1,100 shares of preferred stock for $14 per share. February 6 October 10 Purchase 11,000 shares of its own common stock for $18 per share. November 12 Resell 4,000 shares of treasury stock at $21 per share. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheetThe charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 45,000 shares were originally issued and 5,000 were subsequently reacquired. What is the number of shares outstanding? Oa. 40,000 Ob.45,000 Oc. 50,000 Od. 5,000 Question 7 o A Moving to the next question prevents changes to this answer. & $ % @ # 7 8 3 4 5 2 R T Y E K G H D M C V comman V w/H7. The charter of a corporation provides for the issuance of 147,000 shares of common stock. Assume that 55,000 shares were originally issued and 11,500 were subsequently reacquired. What is the number of shares outstanding? a. 43,500 b. 55,000 c. 147,000 d. 11,500 Please show all step by step calculation
- The following data is available for Crane Corporation at December 31, 2025: Common stock, par $10 (authorized 31500 shares) $283500 Treasury stock (at cost $15 per share) $1080 Based on the data, how many shares of common stock are issued? O 28278. O 31428. O 31500. O 28350.Help Save & Exit Submit The following data were reported by a corporation: Authorized shares 26,000 Issued shares 21,000 Treasury shares 6,500 The number of outstanding shares is: Multiple Choice 26,000.Multiple choice: Question 1: A corporation issues 2,500 shares of common stock for P 45,000. The stock has a stated value of P10 per share. The journal entry to record the stock issuance would include a credit to Ordinary Shares fora.) P25,000b.) P20,000c.) P5,000d.) P45,000Question 2: When a corporation reacquired its own shares due to delinquency and there are no bidders, the share must be retired immediately.Select one:a.) Trueb.) FalseQuestion 3: Using the journal entry method, what is the appropriate entry when there is an issuance of share capital?a.) Debit to authorized share capitalb.) Credit to authorized share capitalc.c.) Credit to unissued share capitald.) Credit to share capitalQuestion 4: An ordinary shareholder receives the same preference and rights as a preference shareholder.-Select one:a.) Trueb.) FalseQuestion 5: Which statement below is not a reason for a corporation to buy back its own stock.a.) for supporting the market price of the stockb.) resale to…
- K Michael Corporation has the following information as of December 31 of the current year: Common Stock, $1 par value (authorized 16,261 shares) Treasury Stock (2,300 shares at cost) Common Stock Outstanding (2,600 shares) Based on the information above, how many shares of common stock are issued? A. 2,300 OB. 2,600 C. 4,900 D. 16,261 $15,0009A. How much is the excess of par to be used for book value per share computation? 9B. How much is the BOOK VALUE PER SHARE for PREFERENCE shares considering that the preference shares are cumulative and participating? (Present answer in 2 decimal places, example: XX.XX) On December 31, 2021, the statement of financial position of FRUITS Company showed the following shareholders equity accounts: • Ordinary shares, par P50, authorized 100,000 shares, issued 85,000 shares, in treasury 7,500 shares - P4,250,000 12% Preference shares, par P75, authorized 50,000 shares, issued 20,000 shares, in treasury 4,000 shares-P1,500,000 Share premium in excess of par-P 862,500 . Reserve for Treasury shares - 725,000 • Treasury ordinary shares-435,000, Treasury preference shares-P 290,000 • Retained earnings, unrestricted-P 2,168,000 Net income for the year - 762,000 Cash dividends declared - P 194,000; 2 years in arrears, current year is not yet included.4. XYZ Company has 40,000,000 shares of stock authorized, 10,000,000 shares issued and 800,000 shares outstanding. How many shares are held by organizations or people other than XYZ? Group of answer choices 800,000 40,000,000 10,000,000 200,000 5. XYZ Company has 4,000,000 shares of stock authorized, 1,000,000 shares issued and 800,000 shares outstanding. How many shares are held by XYZ? Group of answer choices 4,000,000 1,000,000 200,000 800,000
- Question 3:.. CL03 A. The following selected transactions pertain to L. Lewis Corporation: Jan. 3 Issued 100,000 shares, $10 par value, common stock for $25 per share. Feb. 10 Issued 6,000 shares, $10 par value, common stock in exchange for special purpose equipment. L. Lewis Corporation's common stock has been actively traded on the stock exchange at $30 per share. Date Account title Debit CreditPreferred shares, $4.55 non-cumulative, 52,000 shares authorized and issued* $ 3,328,000 Common shares, 87,000 shares authorized and issued* 1,392,000 Required:Part A1. Calculate the total dividends paid in each year to the preferred and to the common shareholders.Required information E11-2 (Algo) Reporting Stockholders' Equity and Determining Dividend Policy [LO 11-2, LO 11-3] [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,200 shares of common stock for cash at $22 per share. b. Issued 2,200 shares of common stock for cash at $25 per share. E11-2 (Algo) Part 4 4. Incentive Corporation has $32,000 in the company's bank account. At year-end, the accounts reflected a profit of $300. What is the maximum amount of cash dividends the company can declare and distribute? Maximum amount of cash dividends