Scopis Ltd reported its shareholders equity as shown

below Shareholders Equity Preferred #8357

Scopis Ltd. reported its shareholders' equity as shown below.Shareholders' EquityPreferred
shares, $1.00Authorized: 10,000 sharesIssued and outstanding:
None..........................................$ 0Common sharesAuthorized: 100,000 sharesIssued and
outstanding: 14,000 shares............................70,000Retained earnings.........................................
...........84,000.......................................................................$154,0001. What was the average
issue price per common share?2. Journalize the issuance of 1,200 common shares at $8.00 per
share. Use Scopis Ltd.'s account titles.3. After question 2, how many Scopis Ltd. common
shares are now outstanding?4. How many common shares would be outstanding after Scopis
Ltd. splits its common shares (computed in question 3) 3 for 1?5. Using Scopis Ltd. account
titles, journalize the declaration of a 10 percent stock dividend when the market price of Scopis
Ltd.'s common shares is $6.00 per share. Use the shares outstanding in question 3.View
Solution:
Scopis Ltd reported its shareholders equity as shown below Shareholders Equity Preferred

ANSWER
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