Business, 19.03.2021 03:50 brianamelara

Knapp Industries began business on January 1, 2018 by issuing all of its 1,850,000 authorized shares of its $1 par value common stock for $36 per share. On June 30, Knapp declared a cash dividend of $2.75 per share to stockholders of record on July 31. Knapp paid the cash dividend on August 30. On November 1, Knapp reacquired 370,000 of its own shares of stock for $41 per share. On December 22, Knapp resold 185,000 of these shares for $47 per share. Required: Prepare all of the necessary journal entries to record the events described above. Prepare the stockholders' equity section of the balance sheet as of December 31, 2018 assuming that the net income for the year was $11,000,000.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 08:40

Which of the following is not a characteristic of enterprise applications that cause challenges in implementation? a. they introduce "switching costs," making the firm dependent on the vendor. b. they cause integration difficulties as every vendor uses different data and processes. c. they are complex and time consuming to implement. d. they support "best practices" for each business process and function. e. they require sweeping changes to business processes to work with the software.

Answers: 1

Answer

Business, 22.06.2019 11:00

What is the advantage of developing criteria for assessing the effectiveness of business products and processes? a. assessment criteria are answers. b.assessment criteria are inexpensive. c.assessment criteria provide you with a list of relevant things to measure. d.assessment criteria provide you with a list of people to contact to learn more about process mentoring.

Answers: 3

Answer

Business, 22.06.2019 14:40

Which of the following statements about revision is most accurate? (a) you must compose first drafts quickly (sprint writing) and return later for editing. (b) careful writers always revise as they write. (c) revision is required for only long and complex business documents. (d) some business writers prefer to compose first drafts quickly and revise later; others prefer to revise as they go.

Answers: 3

Answer

Business, 22.06.2019 14:50

Prepare beneish corporation's income statement and statement of stockholders' equity for year-end december 31, and its balance sheet as of december 31. there were no stock issuances or repurchases during the year. (do not use negative signs with your answers unless otherwise noted.)

Answers: 2

Answer

You know the right answer?

Knapp Industries began business on January 1, 2018 by issuing all of its 1,850,000 authorized shares...

Questions