Question: The answer ive been getting is 2680.1 but its is wrong 5 Required information Problem 8-26 (Algo) Treasury stock transactions LO 6 (The following information
5 Required information Problem 8-26 (Algo) Treasury stock transactions LO 6 (The following information applies to the questions displayed below.] On January 1, 2019, Metco Inc. reported 270,000 shares of $9 par value common stock as being issued and outstanding. On March 24, 2019, Metco Inc. purchased for its treasury 2,700 shares of its common stock at a price of $35.00 per share. On August 19, 2019,710 of these treasury shares were sold for $44.50 per share. Metco's directors declared cash dividends of $0.40 per share during the second quarter and again during the fourth quarter, payable on June 30, 2019, and December 31, 2019, respectively. A 1% stock dividend was issued at the end of the year. There were no other transactions affecting common stock during the year. es Problem 8-26 (Algo) Parte e. Calculate the number of shares of stock issued in the stock dividend. Stock dividend shares
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
