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The answer must include (Deferred Tax Asset) account Common stock, $ 1 par, 200,000 shares outstanding $200,000 Additional paid-in $750,000 During 2023 , Company reacquired
The answer must include (Deferred Tax Asset) account Common stock, \$ 1 par, 200,000 shares outstanding $200,000 Additional paid-in $750,000 During 2023 , Company reacquired 100 shares of common stock for $500,000. The accountant recorded this transaction by debiting Investment in equity securities and crediting Cash (outstanding stock shares were not updated). On December 31, 2023, the board of directors declared a $.50 per share cash dividend on all outstanding common stock shares. Required Journal Entries A. Company reacquired 100 shares of common stock for $500,000. The accountant recorded this transaction by debiting Investment in equity securities and crediting Cash. B. On December 31, 2023, the board of directors declared a $.50 per share cash dividend on all outstanding common stock shares
The answer must include (Deferred Tax Asset) account
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