Answered step by step
Verified Expert Solution
Question
1 Approved Answer
For questions 3 and 4 (fill in the blank), do not use dollar signs or decimals, and be sure to properly use commas. A company
For questions 3 and 4 (fill in the blank), do not use dollar signs or decimals, and be sure to properly use commas. A company issued 350,000 shares of $14.00 par common stock for $16.00 per share. The correct journal entry will contain: a 4,900,000 credit to cash a 5,600,000 debit to cash a 5,600,000 credit to common stock O a 4,900,000 credit to common stock a 700,000 credit to additional paid in capital The company in the previous question purchased 20,000 shares of its own common stock for $14.00 per share. The proper journal entry will contain: O a 280.000 debit to cash O a 280,000 credit to cash O a 140,000 debit to treasury stock O a 120,000 credit to cash a 280,000 debit to treasury stock none of the above Beginning Retained Earnings for EJC Corporation were 2,350,600. Net Income for the period was 498,900. Additionally, 149,500 in dividends were paid to shareholders of record. What were Ending Retained Earnings for the period? Assume EJC Corporation authorized 3,000,000 shares of common stock at $12.50 par and that 2,000,000 shares had been issued at $15.00. Using your answer from the previous question, what is Total Stockholders' Equity for the corporation? Please match the following terms with the correct definition. stock options preferred stock [ Choose ] [ Choose ] equals paid in capital plus retained earnings a dsitribution of additional shares to shareholders without any payment a dsitribution of shares to stockholders according to their owneship percentage a class of stock that has certain rights not afforded to common shareholders shares of stock awarded to employees a part of the compensation package [ Choose ] stock split stockholders' equity [ Choose ] stock dividend [ Choose]
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started