tabitha SY Exam. Week 5 (include xVm Grades: View Exam , week 5(include D-file:/

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tabitha SY Exam. Week 5 (include xVm Grades: View Exam , week 5(include D-file:///C/Users/tabitha/Desktop/Exam%20-%20week%205%20(includes%20chapters%2011-12).html CLICK HERE TO REVIEW LEARNING OBJECTIVES Incorrect 000 points out of 1,00 Flag question QUESTION 7 Question text Change in Stockholders' Equity Nikron Corporation issued 12,000 shares of $0.50 par value common $144,000. The company also paid cash dividends of $30,000 stock during the year for $24 each Nikron also repurchased treasury stock for $1800. Net income for the year was What was the total change in Nikron's stockholders' equity for the year? SAnswero CLICK HERE TO REVIEW LEARNING OBJECTIVES QUESTION E Partially correct 6:00 points out of 7.00 Flag question Question text Issuance of No-Par Common Stock Jackson & Company issued 100,000 shares of $1 par value common stock at a price of $5 per share and issue d 50 000 shares of no-par value common stock at a price of $10 per share Prepare the journal entry to record the issuance of the no par value common stock General Joumal

Explanation / Answer

Calculate total change in stockholder's equity :

Total change in stockholder's equity is $384000

b) Journal entry :

Issue shares (12000*24) 288000 Treasury stock (18000) Net income 144000 Less: Dividend (30000) Change in stockholder's equity 384000

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