Homework Answers
Dividend is paid on outstanding shares
Outstanding share = issued share-Treasury Stock = 56664-9991 = 46673 Shares
Retained earnings will be reduced by (46673*1.46) = $68142.58 or $68143
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shares authorized, 705,000 shares issued and outstanding)
$705,000
Paid-in Capital in Excess of Par
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Retained Earnings
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Accumulated Other Comprehensive Income
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occurred.
1.
Issued 45,500 shares of $1 par
value common stock for $2 per share.
2.
Issued 60,500 shares of common
stock for cash at $5 per share.
3.
Purchased 23,700 shares of common
stock for the treasury at $3.30 per share.
4.
Declared...
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