A restriction of retained earnings makes a portion of retained earnings unavailable to be paid out as dividends. True False Question 23 (8.9 points) On January 2, 2016, Alpha Corporation's initial capital stock transaction consisted of an issuance of 2,500 shares of $8 par value common stock, for $50 per share. What amount should be recorded for: 1. Common Stock 2. Paid in Capital in excess of par Common Stock Question 24 (9 points) On August 1, 2017, Alpha Company retired a $10,000 bond at 102. In doing the journal entry, how much should be 1. Debit to Bonds Payable 2. Credit to Cash Question 25 (8 points) On January 1, 2017, Alpha Company purchased a significant influence shares investment in the Bravo-Zulu Company for $300,000. This investment balance represents 40% of the equity of the Bravo-Zulu Company. During 2017, Bravo- Zulu Company reported Net Income of $25,000, and on November 15, 2017 Bravo-Zulu Company paid cash dividends of $10,000 to its shareholders. Using this information, what are the FY 2017 ending balances in Alpha Company's account balances for: a. Investment in Bravo-Zulu b. Investment Income Question 26 (0.1 points) The following information is available for Alpha Dog Company: Beginning retained earnings $600,000 Cash dividends declared 30,000 Net income for 2014 140,000 Stock dividend declared 10,000 Understatement of last year's depreciation expense 30,000 Instructions Based on the above information, prepare a retained earnings statement for 2014. Spaces in the table may be more than are required.