Question
In: Accounting
Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: Jan....
Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows:
| Jan. | 9 | Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there were 1,092,000 common shares outstanding. |
| Feb. | 28 | Purchased 39,500 shares of the corporation’s own common stock at $29, recording the stock at cost. |
| May | 1 | Declared semiannual dividends of $0.60 on 74,300 shares of preferred stock and $0.14 on the common stock to stockholders of record on June 1, payable on July 10. |
| Jul. | 10 | Paid the cash dividends. |
| Sep. | 7 | Sold 28,500 shares of treasury stock at $33, receiving cash. |
| Oct. | 1 | Declared semiannual dividends of $0.60 on the preferred stock and $0.14 on the common stock (before the stock dividend). In addition, a 5% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $38. |
| Dec. | 1 | Paid the cash dividends and issued the certificates for the common stock dividend. |
Solutions
ekkarill92 answered 1 month agoRelated Solutions
Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: Jan....
Selected transactions completed by Primo Discount Corporation
during the current fiscal year are as follows:
Jan.
9
Split the common stock 3 for 1 and
reduced the par from $75 to $25 per share. After the split, there
were 1,170,000 common shares outstanding.
Feb.
28
Purchased 39,000 shares of the
corporation’s own common stock at $28, recording the stock at
cost.
May
1
Declared semiannual dividends of
$0.85 on 72,300 shares of preferred stock and $0.10 on the common
stock...
Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: Jan....
Selected transactions completed by Primo Discount Corporation
during the current fiscal year are as follows:
Jan.
9
Split the common
stock 3 for 1 and reduced the par from $75 to $25 per share. After
the split, there were 1,200,000 common shares outstanding.
Feb.
28
Purchased 40,000
shares of the corporation’s own common stock at $28, recording the
stock at cost.
May
1
Declared semiannual
dividends of $0.80 per share on 75,000 shares of preferred stock
and $0.12 per share...
Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: Jan....
Selected transactions completed by Primo Discount Corporation
during the current fiscal year are as follows:
Jan.
9
Split the common stock 3 for 1 and
reduced the par from $75 to $25 per share. After the split, there
were 1,150,500 common shares outstanding.
Feb.
28
Purchased 41,400 shares of the
corporation’s own common stock at $28, recording the stock at
cost.
May
1
Declared semiannual dividends of
$0.80 on 74,100 shares of preferred stock and $0.12 on the common
stock...
Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: Jan....
Selected transactions completed by Primo Discount Corporation
during the current fiscal year are as follows:
Jan.
9
Split the common stock 3 for 1 and
reduced the par from $75 to $25 per share. After the split, there
were 1,150,500 common shares outstanding.
Feb.
28
Purchased 41,400 shares of the
corporation’s own common stock at $28, recording the stock at
cost.
May
1
Declared semiannual dividends of
$0.80 on 74,100 shares of preferred stock and $0.12 on the common
stock...
Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: Jan....
Selected transactions completed by Primo Discount Corporation
during the current fiscal year are as follows:
Jan.
9
Split the common stock 3 for 1 and
reduced the par from $75 to $25 per share. After the split, there
were 1,092,000 common shares outstanding.
Feb.
28
Purchased 39,500 shares of the
corporation’s own common stock at $29, recording the stock at
cost.
May
1
Declared semiannual dividends of
$0.60 on 74,300 shares of preferred stock and $0.14 on the common
stock...
Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Jan....
Selected transactions completed by ATV Discount Corporation
during the current fiscal year are as follows:
Jan.
5.
Split the common stock 3 for 1 and
reduced the par from $75 to $25 per share. After the split, there
were 1,279,500 common shares outstanding.
Mar.
10.
Purchased 39,200 shares of the
corporation’s own common stock at $27, recording the stock at
cost.
Apr.
30.
Declared semiannual dividends of
$0.90 on 75,000 shares of preferred stock and $0.15 on the common
stock...
Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Jan....
Selected transactions completed by ATV Discount Corporation
during the current fiscal year are as follows:
Jan.
5.
Split the common
stock 4 for 1 and reduced the par from $20 to $5 per share. After
the split, there were 4,000,000 common shares outstanding.
Mar.
10.
Purchased 100,000
shares of the corporation’s own common stock at $30, recording the
stock at cost.
Apr.
30.
Declared semiannual
dividends of $0.25 on 30,000 shares of preferred stock and $0.08 on
the common stock...
Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Jan....
Selected transactions completed by ATV Discount Corporation
during the current fiscal year are as follows:
Jan.
5.
Split the common stock 3 for 1 and reduced the par from $75 to
$25 per share. After the split, there were 1,150,500 common shares
outstanding.
Mar.
10.
Purchased 41,400 shares of the corporation’s own common stock
at $28, recording the stock at cost.
Apr.
30.
Declared semiannual dividends of $0.80 on 74,100 shares of
preferred stock and $0.12 on the common stock...
Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Jan....
Selected transactions completed by ATV Discount Corporation
during the current fiscal year are as follows: Jan. 5. Split the
common stock 3 for 1 and reduced the par from $75 to $25 per share.
After the split, there were 1,150,500 common shares outstanding.
Mar. 10. Purchased 41,400 shares of the corporation’s own common
stock at $28, recording the stock at cost. Apr. 30. Declared
semiannual dividends of $0.80 on 74,100 shares of preferred stock
and $0.12 on the common stock...
Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Jan....
Selected transactions completed by ATV Discount Corporation
during the current fiscal year are as follows:
Jan.
5.
Split the common stock 4 for 1 and
reduced the par from $20 to $5 per share. After the split, there
were 4,000,000 common shares outstanding.
Mar.
10.
Purchased 100,000 shares of the
corporation’s own common stock at $30, recording the stock at
cost.
Apr.
30.
Declared semiannual dividends of
$0.25 on 30,000 shares of preferred stock and $0.08 on the common
stock...
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