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Question 5 4 pts Our company originally issued 1,000 shares of $1 par value common stock for $9 per share. We repurchased 200 shares of
Question 5 4 pts Our company originally issued 1,000 shares of $1 par value common stock for $9 per share. We repurchased 200 shares of the stock as treasury stock for $10 per share. On September 5, we sold 100 shares of treasury stock for $12 per share. What account(s) and amount(s) would we debit when we record the journal entry for the September 5 transaction? cash, $1,200 treasury stock, $1,000; and paid in capital from treasury stock, $200 O treasury stock, $1,000 cash, $1,000 Question 6 4 pts On June 1 (date of declaration), the company's board of directors announce the intention to pay a $0.50 per share dividend on the 1,000,000 outstanding shares of common stock to the stockholders of record on June 15. The payment date for the cash dividend is June 30. What account and amount would we credit when we record the journal entry on the date of payment? dividends, $500,000 dividends payable, $500,000 O cash, $500,000 no entry required Question 7 4 pts On the statement of cash flows, the purchase of plant assets for cash is shown as: O a cash inflow in the cash flows from financing activities section O a cash outflow in the cash flows from financing activities section a cash inflow in the cash flows from investing activities section a cash outflow in the cash flows from investing activities section Question 8 4 pts On the statement of cash flows, the issuance of common stock for cash is an example of: O cash inflow in the cash flows from financing activities section O cash outflow in the cash flows from financing activities section O cash inflow in the cash flows from investing activities section O cash outflow in the cash flows from investing activities
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