Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 14. at december 31,2018, abc company and xyz compa

14. At December 31,2018, ABC Company and XYZ Company have identical amounts of common stock...

60.1K

Verified Solution

Question

Accounting

image
14. At December 31,2018, ABC Company and XYZ Company have identical amounts of common stock and retained carnings as follows: Common stock, $10 par, 50,000 shares authorized, 9,000 issued, 9,000 outstanding Retained earnings, $500,000 At December 31, 2018, ABC Company declares and issues a 100\% stock dividend, while XYZ Company declares a issues a 2-for-1 stock split. Required Determine for each company the following amounts as of January 1, 2019: ABC Co: XYZ Co: Number of shares of common stock outstanding Par value per share of the common stock Total amount reported in Common Stock account Retained earnings

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

In eukaryotes: what is the difference between the regulation of general versus specific translation? Describe one...

Basic Math
1.2K views

The Orchard Cafe has found that about 6 of the diners who make reservations don...

Algebra
1.2K views

9 Find the length of the diagonal of a rectangle whose dimensio are 5m by...

Algebra
1.2K views

Find a basis for the subspace spanned by the given vectors What is the dimension...

Accounting
1.2K views

Rolling Hills Inc. made a sale to a Japanese customer on September 15, Year 1,...

Accounting
1.2K views

In 7 years Harry and Sally would like to have $16,000.00 for a down payment...

Accounting
1.2K views

Exercise 12-15 (Algo) Equity investments; fair value through net income [LO12-5] On March 31, 2024,...

Accounting
1.2K views

K&Z Inc. follows the practice of pricing its inventory at the lower-of-cost-or-market (LCM), on an...

Accounting
1.2K views

Explain the differences between job order and process cost systems

Accounting
1.2K views

Lena owns a restaurant that was damaged by a tornado. The following assets were partially...

Accounting
1.2K views

Tom Horton is building a cabin on land that he already owns. He hired Landmark...

Accounting
1.2K views

You have been asked to prepare a December cash budget for Ashton Company, a distributor...