Complete this question by entering your answers in the tabs below.Required A Required B Required CDetermine the number of shares of stock that is outstanding.Shares outstandingsharesRequired B > Enscoe Enterprises, Incorporated (EEI) has 300,000 shares authorized, 230,000 shares issued, and 60,000 shares of treasury stock.At this point, EEI has $980,000 of assets. $130.000 liabilities, $580,000 of common stock, and $270,000 of retained earnings. Further,assume that the market value of EEr's common stock is $7 per shareRequiredo. Determine the number of shares of stock that is outstanding.

Outstanding shares represent the total ownership in a company held by investors, while treasury…

Answered: Enscoe Enterprises, Incorporated (EEI)…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 5MCQ

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Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the company has the following transaction: Mar. 1, issued 500,000 shares of stock at $15.75 per share for cash to investors. Journalize this transaction.
The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the current fiscal year: During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: a. Issued 500,000 shares of common stock at 8, receiving cash. b. Issued 10,000 shares of preferred 1% stock at 60. c. Purchased 50,000 shares of treasury common for 7 per share. d. Sold 20,000 shares of treasury common for 9 per share. e. Sold 5,000 shares of treasury common for 6 per share. f. Declared cash dividends of 0.50 per share on preferred stock and 0.08 per share on common stock. g. Paid the cash dividends. Instructions Journalize the entries to record the transactions. Identify each entry by letter.
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Enscoe Enterprises, Incorporated (EEI) has 240,000 shares authorized, 210,000 shares issued, and 20,000 shares of treasury stock. At this point, EEI has $1,530,000 of assets. $200,000 liabilities, $460,000 of common stock, and $870,000 of retained earnings. Further, assume that the market value of EEl's common stock is $9 per share. Required a. Determine the number of shares of stock that is outstanding. b. Determine the book value per share. c. Provide a rational explanation for the difference between the book value per share and the market value per share of EEI's common stock. Complete this question by entering your answers in the tabs below. Required A Required B Required C Determine the number of shares of stock that is outstanding. Shares outstanding shares
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