1.) On January 1, 2019, Fap Company had 390,000 shares of its $1 par value common...
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1.) On January 1, 2019, Fap Company had 390,000shares of its $1 par value common stock outstanding. On March 1,Fap sold an additional 748,000 shares on the open market at $10 pershare. Fap issued a 20% stock dividend on May 1. On August 1, Fappurchased 414,000 shares and immediately retired the stock. OnNovember 1, 595,000 shares were sold for $15 per share. What is theweighted-average number of shares outstanding for 2019?
(Rounded to the nearest dollar.)
2.) On July 1, 2019, Montana Company purchased$3,820,000 of Idaho Company’s 8% bonds, due on July 1, 2026. Thebonds, which pay interest semiannually on January 1 and July 1,were purchased for $3,300,000 to yield 10%. Determine the amount ofinterest revenue Montana should report on its income statement forthe year ended December 31, 2019.
(Round to nearest whole dollar)
1.) On January 1, 2019, Fap Company had 390,000shares of its $1 par value common stock outstanding. On March 1,Fap sold an additional 748,000 shares on the open market at $10 pershare. Fap issued a 20% stock dividend on May 1. On August 1, Fappurchased 414,000 shares and immediately retired the stock. OnNovember 1, 595,000 shares were sold for $15 per share. What is theweighted-average number of shares outstanding for 2019?
(Rounded to the nearest dollar.)
2.) On July 1, 2019, Montana Company purchased$3,820,000 of Idaho Company’s 8% bonds, due on July 1, 2026. Thebonds, which pay interest semiannually on January 1 and July 1,were purchased for $3,300,000 to yield 10%. Determine the amount ofinterest revenue Montana should report on its income statement forthe year ended December 31, 2019.
(Round to nearest whole dollar)
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