Florenza Establishment had 2,500,000 shares of common stock authorized.Shares issued were 1,050,000.There were 50,000 shares in treasury.
a.How many shares have been sold to shareholders?
b.How many shares are outstanding?
c.How many shares are unissued?
d.If the company declared a $2.00 per share cash dividend on January 1,20X4,for those of record on January 15,20X4,payable on January 31,20X4,prepare the journal entry for each of those dates assuming there were no changes over that period in the number of shares authorized,issued,or outstanding.

Question

Quizplus · Accepted Answer

The Answer of Florenza Establishment had 2,500,000 shares of common stock authorized.Shares issued were 1,050,000.There were 50,000 shares in treasury.
a.How many shares have been sold to shareholders?
b.How many shares are outstanding?
c.How many shares are unissued?
d.If the company declared a $2.00 per share cash dividend on January 1,20X4,for those of record on January 15,20X4,payable on January 31,20X4,prepare the journal entry for each of those dates assuming there were no changes over that period in the number of shares authorized,issued,or outstanding.

Florenza Establishment Had 2,500,000 Shares of Common Stock Authorized