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What values would be shown on lusaka''s balance sheet

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Question - Lusaka, Inc. has 30,000 shares issued and outstanding. The shares were issued at $24 per share. Par value is $1 per share. On Dec. 12, Lusaka repurchases 8,000 shares paving cash of $213 per share.

a. What values would be shown on Lusaka's balance sheet for the issued shares prior to the repurchase?

b. Record the journal entry for the share repurchase choosing from the following account abbreviations: CASH = cash; CS = common stock; RE = retained earnings; TS = treasury stock; APIC = additional paid-in capital.

c. Calculate the total book value of common stock after the share repurchase?

d. How many shares are outstanding after the repurchase?

e. On Dec. 15, Lusaka declares a cash dividend of $2.00 per share to be paid on Jan. 25. What is the total amount of cash dividend that Lusaka will pay on Jan. 25?

Reference no: EM133166211

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