On January 1, 2016, Alpha Corporation had 200,000 shares of common stock outstanding with a par value of $3 per share. On March 31, Alpha Corporation declared a 10% stock dividend when the market value was $10 per share. Use this information to prepare the General Journal entry (without explanation) for March 31. If no entry […]
The following are selected accounts for the Alpha Dog Company after all Fiscal Year December 31, 2016, adjusting entries & closing entries have been posted. All balances are normal. On December 31, 2016, Common Stock was authorized 50,000 shares and Preferred Stock was authorized 5,000 shares. Prepare only the Stockholder’s Equity section of the Classified […]
Part A)<br/>On January 2, 2017, Alpha Company purchased 10,000 shares of the stock of Zulu Company, and did not obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $10 per share, and represents a 10% ownership stake. Zulu Company made $25,000 of net income in 2017, and paid dividends of $10,000 […]
6)On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for $15 per share. On March 1, 2016, Alpha reacquired 1,000 of these shares when they were trading $20 each. Use this information to prepare the General Journal entries (without explanation) for January 2 and March 1. 7)On January 2, […]
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