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6.  A company had 10,000 shares outstanding on 1/1.  1,000 new shares were issued on 6/1, and 1,750...

6.  A company had 10,000 shares outstanding on 1/1.  1,000 new shares were issued on 6/1, and 1,750 shares of treasury stock were purchased on 9/1.  What is the weighted average number of shares to be used for the year-end earnings per share calculation (if necessary,  round to the nearest whole share)?

a. 10,000                 

b. 10,083                       

c. 10,063                       

d. 9,250

  1. Jones Corporation has 100,000 shares of $20 par value common stock outstanding.  If Jones declares a 20% stock dividend on its common stock when the market value is $35 per share, for what amount will “Additional Paid-in Capital” be recorded?
  1. $500,000
  2. $700,000
  3. $400,000
  4. $300,000

8.     Jackson Co. has 40,000 shares of $5 par value stock outstanding (total legal capital of  $200,000).  If Jackson splits the stock 2-for-1, what will be the total legal capital of all Jackson Co. shares after the split?

a. $400,000              

b. $300,000                   

c. $100,000                       

d. $200,000

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