Facebook Alexander Corporation R × \\O De repente nos 30. Os m e Chegg Study Gui

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Facebook Alexander Corporation R × O De repente nos 30. Os m e Chegg Study Guided Sr x / Connect × X x ? ? C Secure https://new connect mheducation.com flow connect.htmPisRegztrue8 returnUr?https%3A%2F%2Fconnect.mheducation.com%2Fpaamweb%2Findex.htm %23%2? ? Ch 11 GL-P 11-2a-Optional See Instructor Help Save & Exit Submit Seved Check my work GL1101 - Based on Problem 11-2A LO C3, P2, P3 Vancouver Company reports the following components of stockholders' equity on December 31, 2016 15 points Common stock-$10 par value, 130,800 shares authorized, 50,800 shares issued and outstanding Paid-in capital in excess of Retained earnings Total stockholders' equity $588,68 eBook par value, common stock 75,080 410,080 $985,080 Ask Print Reterences In year 2017, the following transactions affected its stockholders' equity accounts. Jan 1 Purchased 5,880 shares of its own stock at $23 cash per share an 5 Directors declared a $2 per share cash dividend payable an February 28 to the Fobruary 5 stockholders of record Feb. 28 Paid the dividend declared July 6 Sold 1,900 of its treasury shares at $27 cash per share Aug. 22 Sold 3,100 of its treasury shares at $20 cash per share Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record Oct. 28 Paid the dividend declared on September 5 Dec 31 Closed the $291,880 credit balance (from net income) in the Income Summary account to Retained Earnings on January Mc Prev 1of 1 Next Hill A" ^??1:53 PM 4/29/2018

Explanation / Answer

Vacouver Company General Journal 1. to record purchase of 5,000 shares of its own stock Date Account Title Debit Credit Jan.1, 2017 Treasury Stock 115000 Cash 115000 2. to record declaration of dividend of $2 per share on 125,000 shares outstanding Date Account Title Debit Credit Jan.5, 2017 Dividend 250000 Dividend Declared 250000 3. To record payment of dividend declared on Jan.5. Date Account Title Debit Credit Feb.28,2017 Dividend Declared 250000 Cash 250000 4. To record sale of 1,900 shares of treasury stock at $27 per share Date Account Title Debit Credit July.6,2017 Cash 51300 Treasury Stock 43700 Paid-in-capital in excess of par, common stock 7600 5. To record sale of 3,100 shares of treasury stock at $20 per share Date Account Title Debit Credit Aug.22,2017 Cash 62000 Paid-in-capital in excess of par, common stock 9300 Treasury Stock 71300 6. To record declaration of dividend of $2 per share on 130,000 shares outstanding Date Account Title Debit Credit Jan.5, 2017 Dividend 260000 Dividend Declared 260000 7. To record payment of dividend declared on Sept.5. Date Account Title Debit Credit Oct.28,2017 Dividend Declared 260000 Cash 260000 8. To close credit balance of $291,000 in the income summary account. Date Account Title Debit Credit Dec.31,2017 Income Summary 291000 Retained Earnings 291000

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