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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
SE9. Refer to the information for Dao Company in SE8. On October 28, 2014, Dao retired the remaining 700 shares of treasury stock. The shares were originally issued at
$5 per share. Prepare the necessary journal entry.
SE10. Leon Corporation has authorized 400,000 shares of $1 par value common stock, of which 320,000 are issued and 280,000 are outstanding. On May 15, the board of directors declared a cash dividend of $0.20 per share, payable on June 15 to stockhold- ers of record on June 1. Prepare the entries using T accounts, as necessary, for each of the three dates.
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