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Highlight Corporation had 700,000 ordinary shares authorized and 400,000 ordinary shares outstanding on December 31,...

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Accounting

Highlight Corporation had 700,000 ordinary shares authorized and 400,000 ordinary shares outstanding on December 31, 2020. The following events occurred during 2021:

Jan. 31 Declared 10% share dividend

Mar 15 Reacquire its own 120,000 shares

Aug 04 Reissued 70,000 shares

Nov. 30 Declared 3-for-1 stock split

Note: share dividend has been distributed before the split. As of December 31, 2021, how many ordinary shares are outstanding?

Group of answer choices

a. 1,890,000

b. 2,100,000

c. 1,170,000

d. 130,000

Answer & Explanation Solved by verified expert
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