AMIS 522 Quiz 4 Solutions (Both Versions)

AMIS 522 Quiz 4 Solutions (Both Versions) - AMIS 522 Quiz 4...

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AMIS 522 – Quiz 4 (A) Name________________________________________________ Use the following information to answer questions 1 through 4. Buckeye Enterprises had the following account balances in its shareholders’ equity accounts on January 1, 2011. Common stock, $2 par value 1,500,000 PIC – excess of par 45,000,000 Retained earnings 20,000,000 Treasury stock, at cost, 100,000 shares 5,000,000 1) What was total shareholders’ equity on January 1, 2011? 61,500,000 (1.5 + 45 + 20 – 5) 2) How many total shares of Buckeye Enterprises common stock were issued as of January 1, 2011? 750,000 (1,500,000/2) 3) How many total shares of Buckeye Enterprises common stock were outstanding as of January 1, 2011? 650,000 (Answer to #2 – 100,000) 4) Buckeye Enterprises declared and distributed a 7% stock dividend on December 30, 2011. On this date, the market value per share was $55. The average market price of the company stock during the year was $50. a)
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This note was uploaded on 10/10/2011 for the course BUSINESS 522 taught by Professor Paul during the Spring '11 term at Ohio State.

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AMIS 522 Quiz 4 Solutions (Both Versions) - AMIS 522 Quiz 4...

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