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21-25 thanks! Use the following information for the next 5 questions. The Reagan Corporation has 50,000 shares of $10 par value common stock outstanding that

21-25 thanks!
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Use the following information for the next 5 questions. The Reagan Corporation has 50,000 shares of $10 par value common stock outstanding that were originally issued for $17 per share. On July 17, Reagan declared a 15\% stock dividend to stockholders. Market value of the stock was $20. On July 20 , Regan purchased {,000 shares of treasury stock for $19 per share and later sold 1,000 of the treasury shares for $22 a share on Noveinber 2 . 21. The entry to record the July 17 transaction would include a: A. Debit to Retained Earnings, $150,000. B: Credit to Dividends Payable, $150,000. C. Credit to Common Stock, $150,000 D. Credit to Cash, $127,500. 22. What amount of gain should appear on the income statement from the sale of the treasury shares? A. $0 B. $2,000 C. $3,000 D. $5,000 23. The entry to record the sale of the treasury shares on November 2 would not include a A. Credit to Treasury Stock, $17,000 B. Debit to Cash, $22,000. C. Credit to Paid-in-Capital, Treasury Stock, $3,000. D. Credit to Retained Earnings, $2,000. E. Both A and D 24. The number of shares outstanding on November 30 would be: A. 50,000 B. 55,500 C. 56,500 D, 57,500 25. The number of shares issued on November 30 would be: A. 50,000 B. 55,500 C. 56,500 D, 57,500

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