Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1 , ABC issues 1 0 , 0 0 0 shares of common stock for $ 2 0 per share. On April 1

On January 1, ABC issues 10,000 shares of common stock for $20 per share. On April 1, ABC declares a dividend of $2 per share. On May 1, the dividend is paid. On September 1, ABC repurchases 1,000 shares of its common stock for $15 per share. On October 1, ABC declares another $2 per share dividend. On November 1, the dividend is paid. ABC had $50,000 in net income for the year.
Flag question: Question 1
Question 12 pts
As of December 31,2022, what are the total number of shares issued by ABC?
Enter your numbers with no dollar signs and no commas. Please enter as a positive number with no negatives. For example, if the answer is $21,000, enter 21000.
Flag question: Question 2
Question 22 pts
As of December 31,2022, what are the total number of shares outstanding for ABC?
Enter your numbers with no dollar signs and no commas. Please enter as a positive number with no negatives. For example, if the answer is $21,000, enter 21000.
Flag question: Question 3
Question 32 pts
What is the balance of Dividends Payable as of December 31,2022?
Enter your numbers with no dollar signs and no commas. Please enter as a positive number with no negatives. For example, if the answer is $21,000, enter 21000.
Flag question: Question 4
Question 42 pts
As of December 31,2022, what is the balance of Retained Earnings?
Enter your numbers with no dollar signs and no commas. Please enter as a positive number with no negatives. For example, if the answer is $21,000, enter 21000.
Flag question: Question 5
Question 52 pts
What is the total balance in Equity as of December 31,2022?
Enter your numbers with no dollar signs and no commas. Please enter as a positive number with no negatives. For example, if the answer is $21,000, enter 21000.
Flag question: Question 6
Question 62 pts
What is the balance in Treasury Stock as of December 31,2022?
If the amount increases equity, enter it as a positive number. If the amount decreases equity, enter it as a negative number. Enter your numbers with no dollar signs and no commas. For example, if the answer is $21,000, enter 21000.
Flag question: Question 7
Question 72 pts
What is the balance in Common Stock, Par Value as of December 31,2022?
If the amount increases equity, enter it as a positive number. If the amount decreases equity, enter it as a negative number. Enter your numbers with no dollar signs and no commas. For example, if the answer is $21,000, enter 21000.
Flag question: Question 8
Question 82 pts
What is the balance in Additional Paid in Capital (i.e. Capital in Excess of Par) as of December 31,2022?
If the amount increases equity, enter it as a positive number. If the amount decreases equity, enter it as a negative number. Enter your numbers with no dollar signs and no commas. For example, if the answer is $21,000, enter 21000.
Flag question: Question 9
Question 92 pts
By how much does the declaration and payment of dividends during 2022 decrease net income for ABC?
If the amount increases income, enter it as a positive number. If the amount decreases income, enter it as a negative number. Enter your numbers with no dollar signs and no commas. For example, if the answer is $21,000, enter 21000.
Flag question: Question 10
Question 102 pts
As a result of these events only, what is the balance in cash as of December 31,2022?
Enter your numbers with no dollar signs and no commas. Please enter as a positive number with no negatives. For example, if the answer is $21,000, enter 21000.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Accounting The Managerial Chapters

Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura

11th Global Edition

1292105879, 978-1292105871

More Books

Students also viewed these Accounting questions

Question

Find the critical numbers of the function. f(x) = x 2 e 3x

Answered: 1 week ago

Question

a. Where is the person employed?

Answered: 1 week ago