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Data Controls Inc. had 250,000 shares of common stock outstanding at the end of 2004. During...

Data Controls Inc. had 250,000 shares of common stock outstanding at the end of 2004. During 2005 and 2006, the following transactions took place.2005March 1Sold 24,000 sharesJuly 24Issued a 20 percent stock dividendOctober 1Sold 16,000 sharesDecember  

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Answer #1

No. of shares outstanding for the ended 2004= 250,000 shares
The Transactions took place between 2005&2006
March1, 2005- Data Controls Inc. sold 24,000 shares
No. of shares outstanding (Net)
250,000-24,000= 226,000 shares

July 24, 2005- Data Controls Inc. issued 20% of stock dividend
Stock dividends will be condidered on paid up portion of common stock
No. of shares outstanding (Net)
226000*20%= 45,200 shares
number of shares to be additonally issued= 45,200 shares
Total outstanding= 226,000 shares+45,200 shares= 271,200 shares.
October 1, 2005- Data Controls Inc. sold 16,000 shares
No. of shares outstanding (Net)
271,200-16,000= 255,200 shares

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