1 Part 1 of 2 175 DO Required information Problem 10-2A Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 10-3, 10-4, 10-5) The following information applies to the questions displayed below) Donnie Hilfiger hos two classes of stock authorized:S1 par preferred and $0.01 par value common. As of the beginning of 2021,430 shares of preferred stock and 5,300 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021 Marob 1 e 2,400 shares of Contok for 555 per share. Hay 15 Purchase 530 shares of treasury toe for 048 pokar July 10 Hell 330 shares of the Gry stock purchased on May 15 for 55 per share October 15 to 330 shares of preferred stock for $58 per share December 1 Declare a cash dividend on both common and preferred toek of $1.00 per Share to all stockholders of record on December 15. WINDI Dividends are not paid on trouvy stock.) December 31 Pay the cas dividende declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock $430, Common Stock, $53. Additional Pald-in Capital, $82,500, and retained Earnings. $33,100 Net Income for the year ended December 31, 2021, is $13.400 Problem 10-2A Part 1 Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 1 Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on Ja Stock, $430, Common Stock, $53; Additional Paid-in Capital, $82,500; and Retained Earnings year ended December 31, 2021, is $13,400. Problem 10-2A Part 1 Part 1 of 2 1.75 points Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, sele the first account field.) Print View transaction list References X ire. 1 Record the issuance of 2,400 shares of common stock for $55 per share. 2. Record the purchase of 530 shares of treasury stock for $48 per share. 3 Record the resell 330 shares of treasury stock purchased on May 15 for $53 per share. 4 Record the issuance of 330 shares of preferred stock for $58 per share. Credit 5 Record the declaration of a cash dividend on both common and preferred stock of $1.80 per share to all :X 1.75 points Print 3 References ire. Record the resell 330 shares of treasury stock purchased on May 15 for $53 per share. 4 Record the issuance of 330 shares of preferred stock for $58 per share. 5 Record the declaration of a cash dividend on both common and preferred stock of $1.80 per share to all stockholders. (Hint: Dividends are not paid on treasury stock.) Credit 6 Record the entry on December 15. 7 Record the cash dividends declared on December 1. journal entry has been entered Note: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry the first account field.) Part 1 of 2 View transaction list 1.75 points Journal entry worksheet 1 2 3 4 5 6 7 Print References Record the issuance of 2,400 shares of common stock for $55 per share. Note: Enter debits before credits. General Journal Debit Credit Date March 01, 2021 Record entry Clear entry View general Journal 2 Donnie Hufiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 430 shares of preferred stock and 5,300 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021 Part 2 of 2 Hareb 1 Issue 2,400 shares of comon stock for $55 per share. 15 Purchase 530 shares of treasury stock for 548 per share July 10 Honell 330 shares of treasury stock purchased on May 15 for $51 per share. October 15 Issue 330 shares of preferred stock for $58 per share. December 1 Declare a cash dividend on both common and preferred stook of $1.80 per share to all stockholders of record on December 15. (Hint Dividends are not paid on treasury #tock.) December 31 Pay the cash dividends deelared on December 1. 175 points Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock, $430, Common Stock, $53, Additional Paid-in Capital, $82,500, and Retained Earnings, $33,100. Net income for the year ended December 31, 2021. is $13,400. Pro References Problem 10-2A Part 2 2. Select whether each of the following transactions increases (+) or decreases ( - ) total assets, total liabilities, and total stockholders equity. (If none of the categories apply for a particular item, leave the cell blank.) Transaction Total Assets Total Lisbilities Total Stockholders Equity Issue common stock Purchase treasury stock Rose treasury stock Issue preferred stock Declare cash dividends Pay cash dividende