Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1st, DEF company has 106,000 shares authorized, 94,000 shares issued and 82,000 shares outstanding. On January 1st, DEF declares a dividend of $7

image text in transcribed

On January 1st, DEF company has 106,000 shares authorized, 94,000 shares issued and 82,000 shares outstanding. On January 1st, DEF declares a dividend of $7 to shareholders of record on January 15th. On February 1st, DEF will pay the dividend. What is the amount of dividends paid on January 15 th? Your Answer: Answer Question 4 (4 points) On January 1st, ZYX company purchased 1,400 shares of its own stock at $29 per share. On January 20th, ZYX later reissues or sells 239 shares of treasury stock for $50 per share. What is the amount debited to Treasury stock on January 1st? Your Answer: Answer Question 5 (4 points) On January 1st, ZYX company purchased 1,300 shares of its own stock at $21 per share. On January 20th, ZYX later reissues or sells 349 shares of treasury stock for $12 per share. On January 20th, the balance in Additional paid in capital-Treasury stock is credit balance of $0. What is the amount debited to Retained earnings on January 20th? Your

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

Wiley CPAexcel Exam Review Focus Notes Auditing And Attestation 2022

Authors: Wiley

1st Edition

111984858X, 978-1119848585

More Books

Students also viewed these Accounting questions