80.2K
Verified Solution
Link Copied!
1 Corp X is authorized to issue 1,000,000 shares of Common Stock Par $1 No Entry since it was just authorized but not issued.
2 Corporation X issued 500,000 shares of Common Stock Par $1 for $ 8 per share
3 Corporation X issued 1,500,000 shares of Common Stock Par $1 for $10 per share
4 Corporation X reacquired 1,000,000 shares of their Common Stock Par $1 for $ 2
5 Sold 500,000 shares of treasury stock at $8 per share
6 Paid $ 2,000,000 in cash dividends to common stockholders that was declared last month
7 Net income for the year $ 800,000
Answer & Explanation
Solved by verified expert
