User Account

All Pages

How many shares of common stock had been issued

Assignment Help Accounting Basics
Reference no: EM131817850

Question - The following information pertains to Kwon Corp. at January 1, 2010.

Common stock, $10 par, 50,000 shares authorized, 2,000 shares issued and outstanding $ 20,000

Paid-in capital in excess of par, common stock 15,000

Retained earnings 65,000

Kwon Corp. completed the following transactions during 2010:

1. Issued 2,000 shares of $10 par common stock for $25 per share.

2. Repurchased 200 shares of its own common stock for $22 per share.

3. Resold 50 shares of treasury stock for $26 per share.

(a) How many shares of common stock were outstanding at the end of the period?

(b) How many shares of common stock had been issued at the end of the period?

Reference no: EM131817850

Questions Cloud

Quantitative environmental learning project : The Quantitative Environmental Learning Project reports that the second-biggest source of lead in municipal solid waste is from cathode ray tubes
Prepare the companys statement of cash flows : Prepare the operating activities section of the companys statement of cash flows
Compute the amount of cash flow : The following accounts and corresponding balances were drawn from Berry Company's 2012, Compute the amount of cash flow associated with the repayment of bond
Does the ultimate conclusion follow as stated in premise 6 : For a moment assume that Descartes' argument works in proving God's existence, does the ultimate conclusion follow as stated in premise 6?
How many shares of common stock had been issued : Issued 2,000 shares of $10 par common stock for $25 per share. How many shares of common stock had been issued at the end of the period
Discuss why you have negative opinion about the theory : Why you have negative opinion about the theory and what suggestion can you give to FASB in modification of theory
Discuss the company owed its creditors : The company earned $68,000 of revenues and incurred $32,000 of expenses. At the end of the year, the company owed $24,000 to its creditors
Prepare the journal entry to record amortization expense : Prepare the journal entry to record amortization expense for 2011 related to the copyrights. Prepare the journal entry (if any) to record impairment of asset
Create a swot analysis framework with representative : Create a SWOT analysis framework with representative examples for the organization you selected.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Low tax jurisdiction

A U.S. manufacturer wants to conduct business through a foreign subsidiary organized in a low tax jurisdiction. How might it do so without being currently taxed on the subsidiary's foreign earnings?

  How much was value-added time

How much was non-value-added time, How much was value-added time

  Compute the amount of phantom profit

Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO

  Why would an agency fund not have revenue

agency funds report assets and liabilities, but not net assets, revenues, or expenses. Briefly explain why this is so. For example, why would an agency fund not have revenue? Why would it not have expenses?

  How effective do you think the 2-man rule is especially

how effective do you think the 2-man rule is especially when dealing with banks? we see it everyday across the country

  Discuss custom cabinets has decided to price

Custom Cabinets has decided to price their cabinets at 50% above cost. The problem is they are not sure how to assign Factory Overhead

  Write down a 350-word response regarding the differences

write a 350-word response regarding the differences between the direct and indirect presentation of cash flows. why

  Depreciation expense using the sum of the years

Compute 2010 depreciation expense using the sum-of-the-years'-digits method assuming the machinery was purchased on April 1, 2010.

  Which machine should the company use

The Perez Company has the opportunity to invest in one of two mutually exclusive machines that will produce a product it will need for the foreseeable future.

  Prepare the journal entry to record interest on december

Prepare the journal entry to record their issuance by The Bradford Company on January 1, 2011.

  Record the inventory transactions in general journal format

Record the inventory transactions in general journal format. Calculate the gross margin Pam's Creations would report on the 2016 income statement.

  Report foreign currency on consolidated balance sheet

A Clarke Corporation subsidiary buys marketable equity securities and inventory on April 1, 2009, for 100,000 pesos each. It pays for both items on June 1, 2009

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd