Question: Please Answer and explain both questions. I could not get the last 2 answers for the second question in the snapshot. They are typed below.
Please Answer and explain both questions. I could not get the last 2 answers for the second question in the snapshot. They are typed below.
On the 2nd question the last 2 answers (including the two listed in the snapshot) are:
Debit Cash $25,000; Credit Treasury Stock $25,000
Debit Cash $25,000; credit Treasury Stock $20,000, credit additional paid in capital-treasury stock, $5,000

Thee Stallion Company has 300,000 shares of $10 par common stock outstanding. Management declares (not pays) a 10% stock dividend. The market value of a share of common stock was $15 immediately prior to the stock dividend declaration. The journal entry is: O debit stock dividends distributable, $300,000; credit common stock, $300,000. 0 debit retained earnings, $450,000; credit stock dividend distributable, $150,000; credit paid in capital in excess of par, $300,000 0 debit retained earnings, $450,000; credit stock dividend distributable, $300,000; credit paid in capital in excess of par, $150,000. 0 debit stock dividends distributable, $450,000; credit common stock, $450,000. Question 2 (5 points) Doja Dress Company previously purchased 5,000 shares of treasury stock on the open market for $8 per share. Later, the company resells 2,500 shares for $10 per share. What is the journal entry for the sale? 0 debit cash, $25,000; credit treasury stock, $20,000; credit retained earnings, $5,000 0 debit cash, $25,000; credit treasury stock, $20,000; credit additional paid-in capital, $5,000
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