ATC's balance sheet on December 31,2015,showed the following:
Using this information,answer the following questions:
(a)What is the absolute maximum amount of cash dividends that can be paid immediately? _________________________________________.
(b)What is the book value per common share? $_________________.
(c)Assuming a $10,000 cash dividend is declared,what entries would be made on each of the following dates:
(1)Declaration date:
(2)Date of record:
(3)Date of payment:

Question

ATC's balance sheet on December 31,2015,showed the following: 
 Using this information,answer the following questions:
(a)What is the absolute maximum amount of cash dividends that can be paid immediately? _________________________________________.
(b)What is the book value per common share? $_________________.
(c)Assuming a $10,000 cash dividend is declared,what entries would be made on each of the following dates:
(1)Declaration date:
(2)Date of record:
(3)Date of payment:

Quizplus · Accepted Answer

The Answer of ATC's balance sheet on December 31,2015,showed the following: 
 Using this information,answer the following questions:
(a)What is the absolute maximum amount of cash dividends that can be paid immediately? _________________________________________.
(b)What is the book value per common share? $_________________.
(c)Assuming a $10,000 cash dividend is declared,what entries would be made on each of the following dates:
(1)Declaration date:
(2)Date of record:
(3)Date of payment:

ATC's Balance Sheet on December 31,2015,showed the Following