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Question & Answer: Question 1 The Stockholders' Equity section for Thomas Company at December 31, 2003 had the following accounts and balances: Ho…..

Question 1 The Stockholders Equity section for Thomas Company at December 31, 2003 had the following accounts and balances: How many shares were outstanding on December 31, 2004? Paid-in Capital: Common Stock, $10 par, 150,000 shares outstanding Paid-in Capital in Excess of Par Retained Earnings Total Stockholders Equity $1,500 62! 215Your Answers $4,27 (number) During 2004 the following events took place: 1, May 12: Declared a 5% stock dividend. The fair value on this date was $60 per share. 2. September 1: Split the stock 4 for 1. The fair value was $66 per share. 3. Net income for the year was $123,000. Use this information to answer the following question: SUBMIT

Question 1 The Stockholders’ Equity section for Thomas Company at December 31, 2003 had the following accounts and balances: How many shares were outstanding on December 31, 2004? Paid-in Capital: Common Stock, $10 par, 150,000 shares outstanding Paid-in Capital in Excess of Par Retained Earnings Total Stockholders’ Equity $1,500 62! 215Your Answers $4,27 (number) During 2004 the following events took place: 1, May 12: Declared a 5% stock dividend. The fair value on this date was $60 per share. 2. September 1: Split the stock 4 for 1. The fair value was $66 per share. 3. Net income for the year was $123,000. Use this information to answer the following question: SUBMIT

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