Q: The annual report for Philip Morris Companies, Inc., disclosed that
The annual report for Philip Morris Companies, Inc., disclosed that 4 billion shares of common stockhave been authorized. At the end of last year, 2,805,961,317 shares had been issued and the number o...
See AnswerQ: Carbide Corporation purchased 20,000 shares of its own stock for
Carbide Corporation purchased 20,000 shares of its own stock for $45 per share. The next year, the company sold 5,000 shares for $50 per share and the following year, it sold 10,000 shares for $37 per...
See AnswerQ: Cole Company has 288,000 shares of common stock authorized,
Cole Company has 288,000 shares of common stock authorized, 260,000 shares issued, and 60,000 shares of treasury stock. The company’s board of directors has declared a dividend of 65 cents per share....
See AnswerQ: On April 15, 2011, the board of directors for Auction
On April 15, 2011, the board of directors for Auction.com declared a cash dividend of 65 cents per share payable to stockholders of record on May 20. The dividends will be paid on June 14. The company...
See AnswerQ: Lipscomb, Inc., has 200,000 shares of cumulative preferred
Lipscomb, Inc., has 200,000 shares of cumulative preferred stock outstanding. The preferred stock pays dividends in the amount of $2 per share but because of cash flow problems, the company did not pa...
See AnswerQ: Assume that you are a portfolio manager for a large insurance company
Assume that you are a portfolio manager for a large insurance company. The majority of the moneyyou manage is from retired school teachers who depend on the income you earn on their investments.You ha...
See AnswerQ: Reliable Tools, Inc., announced a 100 percent stock dividend.
Reliable Tools, Inc., announced a 100 percent stock dividend. Determine the impact (increase, decrease, no change) of this dividend on the following: 1. Total assets 2. Total liabilities 3. Common sto...
See AnswerQ: University Food Systems, Inc., has issued a 40 percent stock
University Food Systems, Inc., has issued a 40 percent stock dividend. The company has 752,000 shares authorized and 200,000 shares outstanding. The par value of the stock is $10 per share, and the ma...
See AnswerQ: Name three rights of common stockholders. Which of these is most
Name three rights of common stockholders. Which of these is most important in your opinion? Why?
See AnswerQ: To expand operations, Aragon Consulting issued 170,000 shares of
To expand operations, Aragon Consulting issued 170,000 shares of previously unissued stock with a par value of $1. The selling price for the stock was $21 per share. Record the sale of this stock. Wou...
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