Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. is the journal entry to record record the re centl

is the journal entry to record record the re cently 3 Cash Treasury Stock 20,000...

90.2K

Verified Solution

Question

Accounting

image
is the journal entry to record record the re cently 3 Cash Treasury Stock 20,000 Gain on Reise Cash Treasury Stock Additional Paid-in Capital Cash Treasury Stock Gain on Reissuance Cash Common Stock Additional Paid-in Capital 4.000 20,000 16.000 4.000 20.000 3.000 17.000 20,000 Cash 3,000 17.000 Treasury Stock 20,000 20.000 38) Which of the following statements regardi wing statements regarding stock dividends and stock splits are correct? 1) They both reduce the stock's par value. 2) They both involve a pro rata distrit nvolve a pro rata distribution of additional shares to existing stockholders 3) They both reduce the stock price. 4) They both reduce retained earnings. 5) Neither one reduces stockholders' equity. O They both cause the components of stockholders' equity to change. 4) 1, 2, 3, 4, 5 B) 1, 2, 3,6 12,3,5 2, 3, 4, 5, 6 All of the statements are true. A corporation has 40,000 shares of $5 par value common stock outstanding. On October ares a 10% stock dividend. The market value of the stock was $14 per share. The journa dividend includes a: edit to Retained Earnings for $56.000. it to Retained Earnings for $20,000. it to Retained Earnings for $56,000. t to Common Stock for $20,000. I to Common Stock for $56,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students