Yellow Enterprises reported the following ($ in thousands) as of December 31, 2024. All accounts have normal balances.Deficit (debit balance in retained earnings)$ 2,000Common stock2,400Paid-in capital-share repurchaseTreasury stock (at cost)Paid-in capital-excess of parDuring 2025 ($ in thousands), net income was $10,400; 25% of the treasury stock was resold for $590; cash dividends declared were $690; cash dividends paid were$480.What ($ in thousands) was shareholders' equity as of December 31, 2025?1,20032031,900

Name: Yellow Enterprises reported the following ($ in thousands) as of Dece
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Description: Yellow Enterprises reported the following ($ in thousands) as of December 31, 2024. All accounts have normal balances.Deficit (debit balance in retained earnings)$ 2,000Common stock2,400Paid-in capital-share repurchaseTreasury stock (at cost)Paid-in

Share holders capital includes common stock, retained earnings, share premium etc.Shareholders…

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Yellow Enterprises reported the following (S in thousands) as of December 31, 2024. All accounts have normal balances. Deficit (debit balance in retained earnings) $ 2,000 Common stock 2,400 Paid-in capital-share repurchase 1,200 Treasury stock (at cost) 320 Paid-in capital-excess of par During 2025 ($ in thousands), net income was $10,400; 25% of the treasury stock was resold for $590; cash dividends declared were $690; cash dividends paid were $480. What (S in thousands) was shareholders' equity as of December 31, 2025? 31,900

Yellow Enterprises reported the following (S in thousands) as of December 31, 2024. All accounts have normal balances. Deficit (debit balance in retained earnings) $ 2,000 Common stock 2,400 Paid-in capital-share repurchase 1,200 Treasury stock (at cost) 320 Paid-in capital-excess of par During 2025 ($ in thousands), net income was $10,400; 25% of the treasury stock was resold for $590; cash dividends declared were $690; cash dividends paid were $480. What (S in thousands) was shareholders' equity as of December 31, 2025? 31,900

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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-Yellow Enterprises reported the following (5 in thousands) as of December 31, 2024. All accounts have normal balances. Deficit (debit balance in retained earnings) Common stock Paid-in capital-share repurchase Treasury stock (at cost) Paid-in capital-excess of par During 2025 ($ in thousands), net income was $9,000, 25% of the treasury stock was resold for $450, cash dividends declared were $600, cash dividends paid were $500 What (5 in thousands) was shareholders' equity as of December 31, 2024? Multiple Choice $28,600 $35.600 $30,400 $ 3,000 2,000 1,000 400 30,000
The books of Oriole corporation carried the following account balances as of December 31, 2020. Cash $210,000. preferred stck(cumulative, nonparticipating,$50 par) $310,000. common stock (non-par value, 284,000 shares issued) $1,420,000. Paid-in capital in excess of par -preferred stock $157,000. Treasury stock (common 2,900 shares at cost). Retained earnings $ 106,100. The company decided not to pay any dividend in 2020. The board of directors, at their annual meeting on December 21,2021, declared the following: The current year dividend shall be 6% on the preferred and $0.30% per share on the common. The dividend in arrears shall be paid by issuing 1,550 shares of treasury stock. At the date of deceleration, the preferred is selling at $80 per shares , and the common at $12 per shares . Net income for 2021 is estimated at $81,400. (a) prepare the journal entries required for the dividend declaration and payment assuming that they occur simultaneously. ( credit amount title are…