Macanas Company had 125,000 shares issued as of January 1, 2018, which includes 25,000 treasury shares. During the year, 13,000 treasury shares were reissued. Right after the reissuance of the treasury shares, Macanas declared a 3-for-1 split. And on December, additional 5,000 shares were purchased and placed in treasury. Determine the the number of shares issued and shares outstanding, respectively 375,000 and 334,000 O 334,000 and 375,000 O 375,000 and 324,000 324.000 and 375.000

Macanas Company had 125,000 shares issued as of January 1, 2018, which includes 25,000 treasury shares. During the year, 13,000 treasury shares were reissued. Right after the reissuance of the treasury shares, Macanas declared a 3-for-1 split. And on December, additional 5,000 shares were purchased and placed in treasury. Determine the the number of shares issued and shares outstanding, respectively 375,000 and 334,000 O 334,000 and 375,000 O 375,000 and 324,000 324.000 and 375.000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 10EB: Ammon Company is authorized to issue 500,000 shares of $5 par value preferred stock. In its first...

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Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par value common stock at 15 per share (400,000 shares were authorized). During the period January 1, 2014, through December 31, 2019, Kent reported net income of 750,000 and paid cash dividends of 380,000. On January 5, 2019, Kent purchased 12,000 shares of its common stock at 12 per share. On December 28, 2019, 8,000 treasury shares were sold at 8 per share. Kent used the cost method of accounting for treasury shares. What is Kents total shareholders equity as of December 31, 2019? a. 3,290,000 b. 3,306,000 c. 3,338,000 d. 3,370,000
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