Computing Shares Issued in a Stock Dividend
Not what you're looking for?
Please help with the following problem.
On January 1, 2010, Metco, Inc., had 264,000 shares of $2 par value common stock issued and outstanding. On March 15, 2010, Metco, Inc., purchased for its treasury 3,100 shares of its common stock at a price of $39.00 per share. On August 10, 2010, 640 of these treasury shares were sold for $45.00 per share. Metco's directors declared cash dividends of $.70 per share during the second quarter and again during the fourth quarter, payable on June 30, 2010, and December 31, 2010, respectively. A 2.00% stock dividend was issued at the end of the year. There were no other transactions affecting common stock during the year.
Calculate the number of shares of stock issued in the stock dividend.
Stock dividend shares: __________
Purchase this Solution
Solution Summary
The following posting helps with an accounting problem. This solution illustrates how to compute the number of shares issues when a stock dividend is distributed.
Solution Preview
Shares outstanding at January 1, 2010 264,000
Shares purchased on March 15, 2010 ( ...
Purchase this Solution
Free BrainMass Quizzes
Operations Management
This quiz tests a student's knowledge about Operations Management
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.
Basic Social Media Concepts
The quiz will test your knowledge on basic social media concepts.