Question
1) You should create a scenario for 3 separate transactions that address the following issues A-Issue stock at an amount above par value in the
1) You should create a scenario for 3 separate transactions that address the following issues
A-Issue stock at an amount above par value in the 3rd quarter,
B-Declare in quarter 2 and distribute in quarter 4 a property dividend, using an existing asset which has increased in value.
C-Repurchase shares to hold in Treasury and then reissue a portion of the shares for a different price.
You come up with the backstory and details for these transactions, providing me with a description of the transaction that provides enough detail for me to recalculate your numbers.
2) Record each transaction in proper general journal form, including the A↑,A↓,L↓,L↑, OE↓,OE↑ arrows.
come up with 3 separate transactions one for each of the 3 above, and provide information and the numbers you used.
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Get StartedRecommended Textbook for
College Accounting Chapters 1-30
Authors: John Price, M. David Haddock, Michael Farina
14th edition
978-1259284861, 1259284867, 77862392, 978-0077862398
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