Reference no: EM132919854

OUTSTANDING SHARES

The following share capital transactions were reported by X Company:

a. At the start of the year, X issued 200,000 ordinary shares at 120% of P100 par value

b. X subsequently acquired 50,000 shares at 10% above par

c. Before the end of the year, X declared 20% share dividend when the selling price was 20% above par

d. Towards the end of the year, X declared stock splt of 5 for every 1 share

e. At the end of the year, X retired 50,000 shares in treasury shares.

Required:

Problem 1. Journalize the above transactions

Problem 2. What is the number of outstanding shares at the end of the year?