At December 31 the records of Kozmetsky Corporation provided the following selec
ID: 2480941 • Letter: A
Question
At December 31 the records of Kozmetsky Corporation provided the following selected and incomplete data:
shares issued
shares outstanding
the balance in additional paid-in capital would be
earnings per share is
total dividends paid on common stock during the current year is
treasury stock shoul dbe reported in the stockholders equity section of the balance sheet in the amount of
assume that the board of directors voted a 2-for-1 stock split. after the stock split, the par value per share would be
(i dont know how to get shares issued so if someone could explain that in detail id apreciate it!! Thanks!!)
At December 31 the records of Kozmetsky Corporation provided the following selected and incomplete data:
Explanation / Answer
Kozmetsky Corporation Details Amt $ Common stock par value 2 Common Stock a/c value 159,000 No of Issued share=159000/2= 79,500 nos So No of shares issued 79,500 nos Less Treasury stock share nos (10,900) Total Shares Outstanding 68,600 Nos Issue Price Common stock 8 Par Value per share 2 So No of shares issued 79,500 Additional Paid in Capital=79500*6= $ 477,000.0 Net Income for the year 569,380 Total Shares Outstanding 68,600 Earning Per share =569380/68600= $ 8.30 Dividend per share = 2 Total Shares Outstanding 68,600 Total dividend paid during the year= 137,200 Treasury stock nos 10,900 Cost per treasury stock 6 Treasury Stock value =10900*6= $ 65,400.00 So Treasury stock will be reported at a value of $-65,400 Current par value $2 After 2-1 stock split , the par value per stock will be $2/2=$1
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