Q 9: Shareholders' equity Homework Unanswered For Questions 4 through 9, use the following information XYZ Corp. issues common stock on 1/1/2018. All Shareholders' Equity accounts have a $ 0 as of that day. On 1/1/2018, they issue 20,000 shares of $1 par common stock (they are authorized to issue 55,000 shares). The issue price of the shares was $26/share. On 4/5/2018, XYZ repurchases 3,000 shares of their common stock at the market price of $29/share. They are not retiring the shares. On 7/19/2018, they sell 1,000 of those shares at the market price of $25/share; on 9/15/2018 they sell an additional 1,000 shares at the new market price of $29/share. During 2018, XYZ reports net income of $114,500. They declare a cash dividend of $11,500 on 11/30/2018. XYZ's policy is to pay dividends 60 days after they are declared. What is the balance in XYZ's retained earnings account as of 12/31/2018? 0 A $114,500 o B $103,000 o C $ 104,000 o D $ 99,000 O E $102,000 [] Fullscreen HomeWork Unanswered For Questions 4 through 9, use the following information XYZ Corp. issues common stock on 1/1/2018. All Shareholders' Equity accounts have a $ 0 as of that day. On 1/1/2018, they issue 20,000 shares of $1 par common stock (they are authorized to issue 55,000 shares). The issue price of the shares was $26/share. On 4/5/2018, XYZ repurchases 3,000 shares of their common stock at the market price of $29/share. They are not retiring the shares. On 7/19/2018, they sell 1,000 of those shares at the market price of $25/share; on 9/15/2018 they sell an additional 1,000 shares at the new market price of $29/share. During 2018, XYZ reports net income of $114,500. They declare a cash dividend of $11,500 on 11/30/2018. XYZ's policy is to pay dividends 60 days after they are declared. When recording the share resale of 9/15/2018, which of the following is part of the journal entry? O A Debit common stock $ 1,000 O B Credit treasury stock $ 32,000 0 C Debit treasury stock $ 29,000 O D Credit paid-in-capital: share repurchase $, 3,000 O E Credit retained earnings $3,000 [] Fullscreen