Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer the 2 questions! 26. On Jaly 1, 2025. WidCats Compary kcoured 5,000 shars of itc $1 par value common stock at $5 per

please answer the 2 questions!
image text in transcribed
26. On Jaly 1, 2025. WidCats Compary kcoured 5,000 shars of itc $1 par value common stock at $5 per share. The journal entry to recoru thit purchase of its common stockincludes: (u) Dr Comenan stock 29,000 (b) Dr. Treasury stock 25,000 (a) ce: Cash 5,000 fuCr. Treusury stock 25000 Question 27 27. On luly 1 , the directors of WildCats Company declareda $1.50 per share cash dividend on 100,000 shares of $10 pur value common stock, The journal entry on the declaration date includes: Gai Dr Cash dividends 150000 (bb: Dr: Dividents pavable 150000 (d) Cr. Common stock 150.000 C) Gri Cish dividends 150000

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

Financial Strategy

Authors: Kaplan

1st Edition

9781787409965

More Books

Students also viewed these Accounting questions

Question

Q.1. Taxonomic classification of peafowl, Tiger and cow ?

Answered: 1 week ago

Question

Q .1. Different ways of testing the present adulterants ?

Answered: 1 week ago

Question

Q.1. Health issues caused by adulteration data ?

Answered: 1 week ago