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Understanding Journal Entries Regarding stockholders' equity This is a 3 part question, and I am trying to understand how to do this. All information required
Understanding Journal Entries Regarding stockholders' equity
This is a 3 part question, and I am trying to understand how to do this. All information required is in the screen shot. The questions are in the bottom left hand corner.
So if you could please show your work and any explination possible so I can understand the material as well as how you got to the answer, it would be greatly appreciated.
Consider the following statement of stockholders' equity EE click the icon to view the statement of stockholders' equity.) Read the requirements 1. Make journal entries to record the declaration and payment of cash dividends during 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) Record the declaration of cash dividends during 2018. (Do not yet record the payment of the dividend. We will do that in the following step.) Journal Entry Data Table Date Accounts Debit Credit Example Company Statement of Stockholder's Equity Year Ended December 31, 2018 Accounts payable Cash Dividends payable Paid-in capital in excess of par-common Retained earnings Additional paid-in capital 90,000 Total Common stock 120,000 Retainedreasury Stockholders earnings 160,000 Requ stock Equity Balance, December 31, 2017 Issuance of stock Net income Cash dividends Stock dividends Purchase of treasury stock Sale of treasury stock Balance, December 31, 2018 (25,000 Use the statement of stockholders' equity provided to answer the following questions 1. Make journal entries to record the declaration and payment of cash dividends 445,000 110,000 66,000 (40,000) 20,000 90,000 during 2018 How much cash did the issuance of common stock bring in during 2018? What was the cost of the treasury stock that was purchased during 20187 What was the cost of the treasury stock that was sold during the year? For how much was the treasury stock sold during 2018? 66,000 (40,000) 28,000(41,000) 2. 3. 13,000 (18,000) 9,000 (18,000) 19,000 582,000 10,000 S 153,000 S 318,000 S 145,000 (34,000) S PrintDone Print Done Choose from any list or enter any number in the input fields and then click Check Answ
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