The following transactions occurred during 2016 for Rothman Corp.

$11.00

Description

The following transactions occurred during 2016 for Rothman Corp. which has a fiscal year ending Dec. 31:

1. October 5 R. Issued 2000 shares of $10 par common stock and 400 shares of $40 par preferred stock for a lump sum of $85000. Recent market values of the common and preferred stock were $30 and $50 per share respectively

2. October 20 R. Declared an 80% common stock dividend when the market value per share of the common stock was $32.

3. Dec. 5 the common stock dividend was issued

4. Dec. 20 a 3 for 1 stock split occurred for common stock

5. Dec. 30 R. Purchased 100 shares of its own common stock for $14 per share

objectives

a. Prepare the general journal entries to record each transactions

b.determine the number of common shares issued and outstanding on Dec. 31 2016

Note: Please complete this in 1 hour. Greatly appreciated

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