# Hi I need help with this homework, specifically part A. Thanks!

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the following questions based on the four statements. [2 POINTS EACH] 1. How many shares of common stock have been issued as of 12/31/14? 2. How many shares of common stock have been repurchased as of 12/31/14? 3. The number of shares outstanding is the number of shares issued minus repurchased. How many shares of common stock were outstanding as of 12/31/14? 4. The average number of shares during a given year is a weighted-average of the daily number of shares. What was the weighted-average number of common shares (Basic) during fiscal year 2014? 5. The weighted-average number of common shares “Diluted” includes potential shares from employees exercising stock options. What was the weighted-average number of common shares (Diluted) during fiscal year 2014? 6. There are cash inflows and outflows associated with the company’s issuances and repurchases of common shares (treasury shares). How much cash did the company receive from issuing common shares (including treasury shares reissued) during fiscal year 2014? 7. How much cash did the company spend to repurchase common shares during fiscal year 2014? 8. The company declares a quarterly cash dividend to common shareholders. What was the amount of dividends declared per share during fiscal year 2014? 9. If you multiply the dividends declared per share (#8) times the average number of common shares (#4), you would get an estimate of the cash paid towards dividends, but it would not be exact because the dividends declared are changing each year and there is a delay between dividends declared and cash paid. To be exact, what is the actual amount of cash used to pay dividends during fiscal year 2014? PART B (JOURNAL ENTRIES): In year 2012, for Wizard Company, the following transactions affecting stockholders’ equity occurred: Page 1 of 2 a. On March 1, purchased in the market 400 shares of the company’s own common stock at \$40 per share. b. On May 24, sold 80 shares of treasury stock for \$50 cash per share. c. On July 28, sold 60 shares of treasury stock for \$30 cash per share. d. On August 10, declared 5% stock dividends for 1000 shares outstanding with the par value of \$1 per share. The market price was \$40 per share on that date. e. On September 8, split its stock “10-for-1.” 1. Prepare journal entries for each of these transactions. [10 POINTS]. 2. Describe the impact, if any, that these transactions have on the income statement. [5 POINTS]. Page 2 of 2 Read more BailiffBookMantis726
posted a question · Nov 26, 2015 at 10:24am