Highlight Corporation had 700,000 ordinary shares authorized and 400,000 ordinary shares outstanding on December 31,...
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Accounting
Highlight Corporation had 700,000 ordinary shares authorized and 400,000 ordinary shares outstanding on December 31, 2020. The following events occurred during 2021:
Jan. 31 Declared 10% share dividend
Mar 15 Reacquire its own 120,000 shares
Aug 04 Reissued 70,000 shares
Nov. 30 Declared 3-for-1 stock split
Note: share dividend has been distributed before the split. As of December 31, 2021, how many ordinary shares are outstanding?
Group of answer choices
a. 1,890,000
b. 2,100,000
c. 1,170,000
d. 130,000
Answer & Explanation
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