17) On December 31, 2021, the stockholders equity section of Arizona, Inc., was as follows:...
80.2K
Verified Solution
Link Copied!
Question
Accounting
17) On December 31, 2021, the stockholders equity section of Arizona, Inc., was as follows:
Common stock, par value $5: authorized 50,000 shares;
issued and outstanding 18,000 shares
Additional paid-in-capital $230,000
Retained earnings 450,000
On May 1, 2022, Arizona declared an 8% stock dividend, and accordingly issued additional shares, when the fair value of the stock was $14 per share. For the year ended December 31, 2022, Arizona generated net income of $80,000. The balance of Arizonas retained earnings as of December 31, 2022 should be?
18) Stock dividends and liquidated dividends are similar in that both do not change total stockholders equity. (True/False)
19) Federal unemployment insurance paid should be included in an employers payroll tax expense. (True/False)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
