Ch12

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Unformatted text preview: Dividends (–SE) 250,000 Cash (–A) 250,000 Declared and paid cash dividend. Liabilities (–L) 400,000 Cash (–A) 400,000 Repaid liabilities. Alternative 2 Cash (+A) 650,000 Current Assets (–A) 200,000 Fixed Assets (–A) 450,000 Liquidated assets. Cash Dividends (–SE) 400,000 Cash (–A) 400,000 Declared and paid cash dividend. Liabilities (–L) 250,000 Cash (–A) 250,000 Repaid liabilities. Alternative 3 Cash (+A) 650,000 Current Assets (–A) 200,000 Fixed Assets (–A) 450,000 Liquidated assets. Treasury Stock (–SE) 250,000 Cash (–A) 250,000 Purchased treasury stock. Liabilities (–L) 400,000 Cash (–A) 400,000 Repaid liabilities. P12–14 Concluded Alternative 4 Cash (+A) 650,000 Current Assets (–A) 200,000 Fixed Assets (–A) 450,000 Liquidated assets. Treasury Stock (–SE) 650,000 Cash (–A) 650,000 Purchased treasury stock. c. In the event of a liquidation, creditors have the first claim on the company's assets. Consequently, obligations to creditors should be settled in full before the stockholders receive any residual ass...
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This homework help was uploaded on 03/03/2014 for the course ACCT 5053 taught by Professor Staff during the Fall '08 term at Oklahoma State.

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