Answered

Discover the answers you need at Westonci.ca, a dynamic Q&A platform where knowledge is shared freely by a community of experts. Experience the convenience of getting reliable answers to your questions from a vast network of knowledgeable experts. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

in year 1, sofia corp. issued 1,000 shares of $1 par value common stock for $10 per share. in year 4, sofia repurchased and immediately retired 100 shares of the stock at $6 per share. which of the following entries would be included in the journal entry to retire the shares? (select all that apply.)

Sagot :

Debit paid in capital in excess of par $900. Debit common stock $100

Credit paid in capital- shares repurchase $400. Shares are fractional ownership interests in a corporation.

For some businesses, shares are a type of financial instrument that allows for the equitable distribution of any declared residual profits in the form of dividends. A stock with no dividend payments does not distribute its income to its shareholders. Instead, they look forward to further stock price growth as business profits rise. Shares are an organization's equity capital, and there are two primary kinds of shares: common shares and preferred shares. As a result, the terms "shares" and "stock" are frequently used synonymously. Investors that trade funds for these units to reflect equity ownership in a company or financial asset are the owners of shares.

learn more about shares here:

https://brainly.com/question/13931207

#SPJ4

Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.