On January 1, 2020, ABC Co. acquired 50,000 of its 30 par ordinary shares and held them in treasury. During the same time, it has 280,000 issued ordinary shares. During 2020, the following transactions have transpired: · January 1 to October 31 – 30,000 treasury shares were reissued to new and existing stockholders · November 1 – a 5-for-2 share split has taken place. On December 31, 2020, how many ABC Co.’s ordinary shares were issued and outstanding, respectively? a. 700,000 ; 500,000 b. 575,000 ; 650,000 c. 112,000 ; 104,000 d. 700,000 ; 650,000
On January 1, 2020, ABC Co. acquired 50,000 of its 30 par ordinary shares and held them in treasury. During the same time, it has 280,000 issued ordinary shares. During 2020, the following transactions have transpired: · January 1 to October 31 – 30,000 treasury shares were reissued to new and existing stockholders · November 1 – a 5-for-2 share split has taken place. On December 31, 2020, how many ABC Co.’s ordinary shares were issued and outstanding, respectively? a. 700,000 ; 500,000 b. 575,000 ; 650,000 c. 112,000 ; 104,000 d. 700,000 ; 650,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
Related questions
Question
On January 1, 2020, ABC Co. acquired 50,000 of its 30 par ordinary shares and held them in treasury. During the same time, it has 280,000 issued ordinary shares. During 2020, the following transactions have transpired:
· January 1 to October 31 – 30,000 treasury shares were reissued to new and existing stockholders
· November 1 – a 5-for-2 share split has taken place.
On December 31, 2020, how many ABC Co.’s ordinary shares were issued and outstanding, respectively?
· January 1 to October 31 – 30,000 treasury shares were reissued to new and existing stockholders
· November 1 – a 5-for-2 share split has taken place.
On December 31, 2020, how many ABC Co.’s ordinary shares were issued and outstanding, respectively?
a. 700,000 ; 500,000
b. 575,000 ; 650,000
c. 112,000 ; 104,000
d. 700,000 ; 650,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning