solve the three questions attached to file down below

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nvgpu37

Business Finance

Saudi electronic university

Description

1-

  • On January 24th, 2018, SABIC’s Board of Directors declared to distribute 6 SR per share as cash dividends. SABIC has 3,000,000 common shares outstanding. The dividend will be paid on February 25th to stockholders of record on February 1st.
  • What are the required entries for this transaction.


    2- On September 26th, 2018, Mobily purchased 700,000 of its own shares of stock in the open market for 34 SR per share. Then on November 17th, 2018 sold 200,000 shares for 23 SR per share.

    3- 1- Talk briefly about the sections of statement of cash flows.



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PRINCIPLES OF ACCOUNTING ACCT 101 Name of the Student CRN Assignment 3 Student ID Student Grade Marks /10 Course Title Principles of Accounting Code ACCT 101 Uploading End week 12 Submission End week 13 Date Sat 30/03/2019 Dates Sat 06/04/2019 Instructions: - The answer must be in English. - Students must include your details (Name, Student ID, CRN, Date of submission) - Answer the ALL questions. - Assignments should be submitted in MS Word format - Font should be Times New Roman with 14 points. - You are required to work in this assignment individually. - You should submit the assignment via the Blackboard. - Students who submit assignments after deadline, will get ZERO. - If you engaged in plagiarism, you will get ZERO marks in the assignment or course. 1- On January 24th, 2018, SABIC’s Board of Directors declared to distribute 6 SR per share as cash dividends. SABIC has 3,000,000 common shares outstanding. The dividend will be paid on February 25th to stockholders of record on February 1st. - What are the required entries for this transaction. 2- On September 26th, 2018, Mobily purchased 700,000 of its own shares of stock in the open market for 34 SR per share. Then on November 17th, 2018 sold 200,000 shares for 23 SR per share. 3- Talk briefly about the sections of statement of cash flows.
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Explanation & Answer

Hello kindly find your answer in the attached word document...It was great working with you

1

Running head: JOURNAL ENTRIES

Journal entries
Student’s name
Course title
Instructor
Date

2

JOURNAL ENTRIES
Three questions


On January 24th, 2018, SABIC’s Board of Directors declared to distribute 6 SR per share
as cash dividends. SABIC has 3,000,000 common shares outstanding. The dividend will
be paid on February 25th to stockholders of record on February 1st.



What are the required entries for this transaction?

When dividends are cleared, they are termed as dividends payable and they are a liability that
the firm expects to repay in the future. The journal entries for the transaction at the day when
the dividends are declared are;
Debi...


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