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  3. 1.) on january 1, 2019, fap company had 390,000 sh

1.) On January 1, 2019, Fap Company had 390,000 shares of its $1 par value common...

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Accounting

1.) On January 1, 2019, Fap Company had 390,000shares of its $1 par value common stock outstanding. On March 1,Fap sold an additional 748,000 shares on the open market at $10 pershare. Fap issued a 20% stock dividend on May 1. On August 1, Fappurchased 414,000 shares and immediately retired the stock. OnNovember 1, 595,000 shares were sold for $15 per share. What is theweighted-average number of shares outstanding for 2019?

(Rounded to the nearest dollar.)

2.) On July 1, 2019, Montana Company purchased$3,820,000 of Idaho Company’s 8% bonds, due on July 1, 2026. Thebonds, which pay interest semiannually on January 1 and July 1,were purchased for $3,300,000 to yield 10%. Determine the amount ofinterest revenue Montana should report on its income statement forthe year ended December 31, 2019.

(Round to nearest whole dollar)

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