Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 7 6 points 00:36:02 the equity section from the de

7 6 points 00:36:02 The equity section from the December 31, 2020 balance sheet of...

80.2K

Verified Solution

Question

Accounting

7 6 points 00:36:02 The equity section from the December 31, 2020 balance sheet of Kentucky Corporation appeared as follows: Contributed capital: Common shares, 52,000 shares authorized; 24,840 and 22,900 shares issued and outstanding, respectively. Retained earnings Required: 1. How many shares were outstanding on each of the cash dividend dates? Outstanding charac The following transactions occurred during 2021 (assume the retirements were the first ever recorded by Kentucky): Jan. 5 A $1.60 per share cash dividend was declared, and the date of record was five days later. Mar. 20 2,200 common shares were repurchased and retired at $27.60 per share. Apr. 5 A $0.80 per share cash dividend was declared, and the date of record was five days later. July 5 A $1.80 per share cash dividend was declared, and the date of record was five days later. July 31 A 20.00% share dividend was declared when the market value was $30.00 per share. Aug. 14 The share dividend was issued. Oct. 5 A $1.60 per share cash dividend was declared, and the date of record was five days later. Jan. 5 Apr. 5 July 5 2021 Oct. 5 2020 $695,520 $632,040 516, 200 609,800 DellCommand Update
image
The equity section from the December 31, 2020 balance sheet of Kentucky Corporation appeared as follows. The following transactions occurred during 2021 (assume the retirements were the first ever recorded by Kentuchy) Jan. S A \$1.6e per share cash dividend was declared, and the date of record was five days later. Mar. 20 2,200 common shares were repurchased and retired at $27,60 per share. Apr. 5 A se.se per share cash dividend was declared, and the date of record was the days later July 5A$1.80 per share cash dividend was declared, and the date of record was five days later: July 31 A 20.00x share dividend was declared when the market value was 350 .ee por thare. Aug. 14 The share dividend was issued. OCt. 5 A $1.60 per share cash dividend was declared, and the date of record was five days later. Required: 1. How many shares were outstanding on each of the cash dividend dates

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