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Carla Vista Enterprises buys back 308,000 shares of its stock from investors at $10.50 a share. Two years later, it reissues this stock for $10.00
Carla Vista Enterprises buys back 308,000 shares of its stock from investors at $10.50 a share. Two years later, it reissues this stock for $10.00 a share. The stock reissue would be recorded with a debit to Cash for: Multiple Choice $3,080,000, a debit to Additional Paid-in Capital for $154,000, and a credit to Treasury Stock for $3,234,000. () $3,234,000, a credit to Treasury Stock for $3,080,000, and a credit to Additional Paid-in Capital for $154,000. $3,234,000 and a credit to Treasury Stock for $3,234,000. $3,080,000 and a credit to Treasury Stock for $3,080,000. Gladstone company issues 113,000 shares of preferred stock for $39 a share. The stock has fixed annual dividend rate of 8% and a par value of $10 per share. If sufficient dividends are declared, preferred stockholders can anticipate receiving dividends of: Multiple Choice $352,560 each year. o $90,400 each year. 8% of net income each year. o o o $10 per share
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