Principles of Accounting

PRINCIPLES OF ACCOUNTING

ACCT 101

Name of the Student		Student ID
CRN		Student Grade
Assignment	3	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.

1. 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.

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