Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question1: 1 through 5 Question 2: [The following information applies to the questions displayed below.] The annual report for Malibu Beachwear reported the following transactions
Question1: 1 through 5 Question 2: [The following information applies to the questions displayed below.] The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity: a. Purchased $350,800 of common stock now held in treasury. b. Declared cash dividends in the amount of $260,400. c. Paid the dividends in (b). d. Issued 108,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account. 2. Prepare journal entries to record each of these events. (If no entry is required for a transaction/event, select "No J. Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 Record the purchase of $350,800 common stock now held in treasury. Prey 1 of 6 Next > Poem THE MAN....docx The 2016 annual report for Mega Mills disclosed that 1 billion shares of common stock have been authorized. At the end of 2015, 83 million shares had been issued and the number of shares in treasury stock was 116 million. During 2016, the only common share transactions were that 20 million common shares were reissued from treasury and 35 million common shares were purchased and held as treasury stock. Required: Determine the number of common shares (a) issued, (b) in treasury, and ( outstanding at the end of 2016. (Enter your answers in millions.) Number of Common Shares (in millions) (a) Issued Stock (b) Treasury Stock (c) Shares Outstanding
Question1: 1 through 5
Question 2:
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started