On may 4, 2013, Docker, Inc, purchased 700 of its own in the June 15, 2013. Use

Question

On may 4, 2013, Docker, Inc, purchased 700 of its own in the June 15, 2013. Use the horizontal model on Docker's financial statements of the purchase of the treasury stock on May 4. (Enter decreases to account balances with a minus sign.) Use the horizontal model on Docker's financial statements of the declaration and payment of the cash dividend on June 15.2013. (Enter decreases to account balances with a minus sign.) Use the horizontal model on Docker's financial statements of the declaration and payment of the sale of the treasury stock on September 19. 2013. (Enter decreases to account balances with a minus sign.)

Explanation / Answer

Answer:

Docker's Financial statements of the purchase of the Treasury stock =

700 Shares @ $ 19.00 per share = 700 Shares * $ 19.00 = $ 13,300

Docker's Financial statements o fthe declearation and payment of cash dividend

34,000 Shares @ $ .35 per share Dividend Paid = 34,000 Shares * $ .35 = $ 11,900

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