The shareholders' equity section of Maven Corporation's balance sheet as of December 31, 2016 is as follows:
The following events occurred during 2017:
.February 1 - 400 shares of authorized and unissued common stock were sold for $4 per share.
.June 16 - A 15% stock dividend was declared and issued. Market value per share is currently $18.
.October 11 - A three-for-one split was carried out. Market value was $21 per share.
.November 4 - A cash dividend of $4.20 per share was declared, payable January 12 to shareholders of record on November 30.
How many shares of common stock are outstanding at December 31, 2017? Determine the balance in the common stock account at December 31, 2017.
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q70: Immediately before Zorro Corporation sold 4,000 shares
Q71: Gomer Paper Corporation has the following
Q72: An 8% stock dividend was declared and
Q73: Immediately before Cayman Corporation issued 2,000 shares
Q74: Immediately before Cavecreek Corporation purchased 4
Q76: A 10% stock dividend was declared and
Q77: The shareholders' equity sections of Samuels
Q78: Immediately before a 15% stock dividend was
Q79: If a corporation distributes a 4-for-3 stock
Q80: A sequence of events affecting the shareholders'
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents