The shareholders' equity section of Nakoma Inc. provides information as follows: Stockholders' equity Common stock, $1...
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The shareholders' equity section of Nakoma Inc. provides information as follows: Stockholders' equity Common stock, $1 par, 1,750,000 shares authorized, 500,000 shares issued, 490,000 shares outstanding Paid-in capital in excess of par-Common stock Retained earnings Accumulated other comprehensive income Less: Treasury stock, 10,000 shares at cost Total equity attributable to Nakoma Inc. stockholders Equity attributable to noncontrolling interests Total stockholders' equity During 2020, Nakoma Inc. has the following transactions: . On March 30, 2020, reacquired and retired 1,000 shares of common stock at $13.50 per share. . On September 20, 2020, sold 2,800 treasury shares at $21 per share. . On November 25, 2020, declared and issued a 10% stock dividend. . On December 15, 2020, retired 4,000 treasury shares. $500,000 480,000 360,000 48,000 (55,000) $1,333,000 5,000 $1,338,000 Required: Given the transactions above, on December 31, 2020, 1. The number of authorized shares is 2. The number of issued shares is 3. The number of outstanding shares is 4. The number of treasury shares is shares. shares. shares. shares. The shareholders' equity section of Nakoma Inc. provides information as follows: Stockholders' equity Common stock, $1 par, 1,750,000 shares authorized, 500,000 shares issued, 490,000 shares outstanding Paid-in capital in excess of par-Common stock Retained earnings Accumulated other comprehensive income Less: Treasury stock, 10,000 shares at cost Total equity attributable to Nakoma Inc. stockholders Equity attributable to noncontrolling interests Total stockholders' equity During 2020, Nakoma Inc. has the following transactions: . On March 30, 2020, reacquired and retired 1,000 shares of common stock at $13.50 per share. . On September 20, 2020, sold 2,800 treasury shares at $21 per share. . On November 25, 2020, declared and issued a 10% stock dividend. . On December 15, 2020, retired 4,000 treasury shares. $500,000 480,000 360,000 48,000 (55,000) $1,333,000 5,000 $1,338,000 Required: Given the transactions above, on December 31, 2020, 1. The number of authorized shares is 2. The number of issued shares is 3. The number of outstanding shares is 4. The number of treasury shares is shares. shares. shares. shares.
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Answer 1 Authorised Shares 1750000 2 Opening 500000 Less Shares reacquired 1000 Add ... View the full answer
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Posted Date:
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