Common stock—$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 400,000 paid-in capital in excess of par value, common stock 60,000 retained earnings 270,000 total stockholders' equity $ 730,000 in year 2017, the following transactions affected its stockholders’ equity accounts. jan. 1 purchased 4,000 shares of its own stock at $20 cash per share. jan. 5 directors declared a $2 per share cash dividend payable on february 28 to the february 5 stockholders of record. feb. 28 paid the dividend declared on january 5. july 6 sold 1,500 of its treasury shares at $24 cash per share. aug. 22 sold 2,500 of its treasury shares at $17 cash per share. sept. 5 directors declared a $2 per share cash dividend payable on october 28 to the september 25 stockholders of record.

treasury stock    80,000 debit

             cash                  80,000 credit

dividends           72,000 debit

            dividends payable     72,000 credit

dividends payable     72,000 debit

            cash                     72,000 credit

cash                    36,000

       treasury stock             30,000 credit

       add paid-in TS              6,000 credit

cash                    42,500 debit

add paid-in TS      6,000 debit

retained earnings 1,500 debit

       treasury stock             50,000 credit

dividends           80,000 debit

            dividends payable     80,000 credit

dividends payable     80,000 debit

            cash                     80,000 credit

Explanation:

Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record

Jan 1st: The treasury stock are recorded at cost

Jan 5th

40,000 - 4,000 = 36,000 shares outstanding

                          x 2 dividend per share

dividends             72,000

Feb 28th we write-off the payable and decrease cash

July 6th

proceeds 1,500 x $24 = 36,000

cost          1,500 x $20 = 30,000  

additional paid-in              6,000

August 22

proceeds 2,500 x $17 =  42,500

cost          2,500 x $20 = 50,000  

"loss"                                  (7,500)

we cannot declare loss when selling own share, we first decrease the additional paid-in treasury stock and if needed like in this case; we decrease retained earings

Sep 5th

there are 40,000 outstanding  x $2 = 80,000

Oct 28th we write-off the payable and decrease cash

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'

answer; bootstrapping is your answer;