subject
Business, 05.05.2020 20:33 ally9704

Recording and Reporting Stockholders Equity Transactions, Including Closing Entry [LO 11-2, LO 11-3]The following information applies to the questions displayed below.]The annual report for Malibu Beachwear reported the following transactions affecting stockholders’ equity:a. Purchased $350,000 of common stock now held in treasury. b. Declared cash dividends in the amount of $260,000.c. Paid the dividends in (b).d. Issued 100,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account.1 Record the purchase of 350000 common stock. 2 Record the cash dividends declared in the amount of $260,000. 3 Record the payment of the dividend. 4 Record the issue of 100,000 shares of $0.10 par value common shares for $2 per share. 5 Closed the Dividends account. Record the entry.

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 22.06.2019 04:00, only1123
Match the type of agreements to their descriptions. will trust living will prenuptial agreement
Answers: 2
image
Business, 22.06.2019 23:30, glissman8459
What is the difference between career options in the law enforcement pathway and career options in the correction services pathway?
Answers: 1
image
Business, 23.06.2019 02:20, lenaeeee
Required information lansing company’s 2017 income statement and selected balance sheet data (for current assets and current liabilities) at december 31, 2016 and 2017, follow. lansing company income statement for year ended december 31, 2017 sales revenue $130,200 expenses cost of goods sold 53,000 depreciation expense 17,500 salaries expense 29,000 rent expense 10,100 insurance expense 4,900 interest expense 4,700 utilities expense 3,900 net income $7,100 lansing company selected balance sheet accounts at december 31 2017 2016 accounts receivable $6,700 $8,000 inventory 3,080 2,090 accounts payable 5,500 6,800 salaries payable 1,100 810 utilities payable 440 270 prepaid insurance 370 500 prepaid rent 440 290 required: prepare the cash flows from operating activities section only of the company’s 2017 statement of cash flows using the indirect method. (amounts to be deducted should be indicated with a minus sign.)
Answers: 1
image
Business, 23.06.2019 09:50, mmczora22
For the year, uptowne furniture had sales of $818,790, costs of $748,330, and interest paid of $24,450. the depreciation expense was $56,100 and the tax rate was 34 percent. at the beginning of the year, the firm had retained earnings of $172,270 and common stock of $260,000. at the end of the year, retained earnings was $158,713 and common stock was $280,000. any tax losses can be used. what is the amount of the dividends paid for the year? a. $6,466 b. $7,566 c. $5,266 d. $6,898 e. $7,066
Answers: 3
You know the right answer?
Recording and Reporting Stockholders Equity Transactions, Including Closing Entry [LO 11-2, LO 11-3]...

Questions in other subjects: