Equity Assignment

Equity (20 points) Need help with QUESTIONS 5 – 9

Details (read these details extremely carefully)

LSK Inc. started business on January, 2019 by issuing shares for cash in January, 2019

LSK Inc. issued a share dividend of 20% back in March, 2019 when the price was $10.

LSK Inc. did not pay out dividends in 2019.

Using the above details, answer the following:

1) Calculate the split and dividend adjusted price of LSK Inc.’s shares on January 2^nd, 2020 using the market value calculated above in (3) (2 points)

2) Record the journal entry on January 1^st, 2019 for LSK Inc. issuing shares (2 points)

3) LSK Inc. buys back 1,000 of its outstanding shares on October 31^st, 2020. The price of the stock on the market is $12 on October 31^st, 2020. Record the journal entry (1.5 points)

4) The Retained Earnings balance is reported at $5,000 on December 31^st, 2020. Calculate the EPS of LSK Inc. on December 31^st, 2020. (2.5 points)

5) Between January 1^st, 2016 and December 31^st, 2016, at what average price did the 3M Company, which was formerly known as Minnesota Mining and Manufacturing, company buy back its shares? (5 points)

6. Calculate LSK Inc.’s Earnings-per-share on December 31^st, 2019. (2.5 points)

7. LSK Inc. is performing well and its shares are worth $100 on the market on Jan 1^st, 2020. LSK Inc. decides to split its shares 10-to-1 on Jan 1^st, 2020. Record the journal entry. (1.5 points)

8. Calculate LSK Inc.’s shares new market value on Jan 1^st, 2020 after the 10-to-1 split. (1.5 points)

9. Calculate the price that LSK Inc. issued shares for on January 1^st, 2019 (1.5 points) Get Finance homework help today