JC Corporation had 20,000 shares of $4 par value common stock outstanding on January 1,...
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JC Corporation had 20,000 shares of $4 par value common stock outstanding on January 1, 2014. On January 20, 2014, the company purchased 2,000 of the outstanding shares for $16 per share. On July 3, 2014, the company reissued 1,000 of the shares at $20 per share.
Use the information above to answer the following questions:
What is the journal entry to recored the purchase of stock on Jan 20?
What is the journal entry to recored the reissance on July 3
Assume the company paid a dividend of $5 per share on August 3. What is the total amount of the dividends would be paid to common stockholders?
Use the information above to answer the following question. What is the journal entry to record the purchase of the stock on January 20? A) Treasury stock 8,000 24,000 32,000 8,000 Additional paid-in capital Cash B) Treasury stock Cash C) Treasury stock Common stock Cash D) Common stock 32,000 32,000 24,000 32,000 32,000 Cash 32,000 Option C Option D Option A Option B
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