Yordan Inc. had the following information available, as of December 31, 2023: $ Common Stock (par...
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Yordan Inc. had the following information available, as of December 31, 2023: $ Common Stock (par $10, iss & out 50,000 shrs) Paid in Capital in Excess of Par Preferred Stock 6% (par $1,000, iss & out 5,000 shrs, cumulative) Yordan Inc. did not paid dividends in 2022. Additional information for 2023 is provided below: a) 500,000 1,250,000 5,000,000 b) On April. 1st, Yordan Inc repurchased 5,000 shares of the previously issued shares at $30.00 cash per share for treasury stock and reissued 2,500 shares of the treasury shares on September 1st at $40.00 per share. Yordan Inc declared on Dec. 1st a dividend of $600,000, payable on Jan. 15, 2024. Required: Record the necessary journal entries for 2023 relating to treasury stock and dividends. Yordan Inc. had the following information available, as of December 31, 2023: $ Common Stock (par $10, iss & out 50,000 shrs) Paid in Capital in Excess of Par Preferred Stock 6% (par $1,000, iss & out 5,000 shrs, cumulative) Yordan Inc. did not paid dividends in 2022. Additional information for 2023 is provided below: a) 500,000 1,250,000 5,000,000 b) On April. 1st, Yordan Inc repurchased 5,000 shares of the previously issued shares at $30.00 cash per share for treasury stock and reissued 2,500 shares of the treasury shares on September 1st at $40.00 per share. Yordan Inc declared on Dec. 1st a dividend of $600,000, payable on Jan. 15, 2024. Required: Record the necessary journal entries for 2023 relating to treasury stock and dividends.
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Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Posted Date:
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