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3 years ago

Vaughn Corporation had 303,000 shares of common stock outstanding on January 1, 2017. On May 1, Vaughn issued 31,200 shares.

Business

1 answer:

Helga [31]3 years ago

4 0

Answer and Explanation:

The computation of the weighted-average number of shares outstanding in each cases is as follows:

a. At the time when the shares are issued at cash

= (303,000 × 12 ÷ 12) + (31,200 × 8 ÷ 12)

= 303,000 + 20,800

= 323,800 shares

b. At the time when the shares are issued in the stock dividend

= (303,000 × 12 ÷ 12) + (29,700 × 12 ÷ 12)

= 303,000 + 29,700

= 332,700 shares

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2 years ago

Wheeler Company issued 5,000 shares of its $5 par value common stock having a fair value of $25 per share and 7,500 shares of it

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Answer:

Option (c) $141,818

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Data provided in the question:

Number of common stocks issued = 5,000

Value of common stock = $25 par value

Number of preferred stocks issued = 7,500

Value of preferred stock = $20 par value

Lump sum value of total shares issued = $260,000

Now,

Fair value of the preferred stocks = 7,500 × $20

= $150,000

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= $125,000

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Total value of the stocks issued = $150,000 + $125,000

= $275,000

Therefore,

Proceeds allocated to the preferred stock

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= $260,000 × [ $150,000 ÷ $275,000 ]

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