The number of common shares outstanding during the entire year was 200,000, and preferred…


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29.99

The number of common shares outstanding during the entire year was 200,000, and preferred… 1 answer below » 1. On May 3, Lassman Corporation purchased 3,000 shares of its own stock for $27,000 cash. On November 4, Lassman reissued 750 shares of this treasury stock for $7,080. Prepare the May 3 and November 4 journal entries to record Lassman’s purchase and reissuance of treasury stock. 2. Barnes Company earned net income of $450,000 this year. The number of common shares outstanding during the entire year was 200,000, and preferred shareholders received a $10,000 cash dividend. Compute Barnes Company’s basic earnings per share. Jul 24 2014 07:49 AM

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29.99