10-7

Problem 10-2A (Algo) 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 Hitfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024,390 shares of preferred stock and 4,900 shares of common stock bave been issued. The following transactions affect stockhoiders' equity during 2024 : Karch 1 Iasse 2,000 shares of commen stoek for $51 per share. May 15 Purchase 490 shares of treasury stook for $44 per share. July 10 Resel1 290 sharen of treasury stock purchased on Kay 15 for $49 per share. October is Issue 290 shares of preferred btoek for $54 per share. Decenber 1 Declare a cash dividend on both common and preferred stock of $1,40 per share to all stockholder: of record on December 15. (Hint: Dividenda are not paid on treasury Btock.) Decenber 31 Pay the cash dividends declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$390; Common Stock, \$49; Additional Paid-in Capital, \$80,500; and Retained Earnings, \$32,300. Net income for the year ended December 31,2024 , is $12,600. Problem 10-2A (Algo) Part 1 lequired: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in he first account field.) Journal entry worksheet 2. 345567 Record the issuance of 2,000 shares of common stock for $51 per share. Notev finter debits before credits. Problem 10-2A (Algo) 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] Donnle Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024,390 shares of preferred stock and 4,900 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024 : Mareh 1 tssue 2,000 shares of comaon stock for $51 per ahare. May 15 Parehase 490 shares of treasury stock for $44 per share. July 10 Resel1 290 shares of treasury stoek purehased on May 15 for $49 per share. october 15 Issue 290 shares of preferred stock for $54 per share. December 1 Declare a cash dividend on both comson and preferred stock of $1.40 per share to al1 stoekholders of record on December 15. (Rint: Dividends are not paid on treasury stock.) December 31 Pay the eash dividends declared on December 1 . Donnie Hifiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$390; Common Stock, \$49; Additional Paid-in Capital, \$80,500; and Retained Earnings, \$32,300. Net income for the year ended December 31,2024 , is $12,600. roblem 10-2A (Algo) Part 1 equired: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in first account field.) Journal entry worksheet Record the purchase of 490 shares of treasury stock for $44 per share. Natenfinter debits before credits, Problem 10-2A (Algo) 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 Hiliger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024,390 shares of preferred stock and 4,900 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024 : Narch 1 Issue 2,000 shares of common stock for $51 per"share. May 15 Purchase 490 shares of treasury wtock for 544 per mhare. July 10 Resel1 290 shares of treasury stock purchased on Nay 15 for 549 per ahare. Oetober 15 Issue 290 shares of preferred stock for $54 per share. December 1 Declare a cash dividend on both common and preferred stock of $1.40 per ahare to al1 stockholders of record on December 15. (Bint; Dividends are not paid on treasury stock.) December 31 pay the cash dividends declared on Decenber 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, $390; Common Stock, \$49; Additional Paid-in Capital, $80,500; and Retained Earnings, \$32,300. Net income for the year ended December 31,2024 , is $12,600. roblem 10-2A (Algo) Part 1 quired: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in first account field.) Journal entry worksheet Record the resale of 290 shares of treasury stock purchased on May 15 for $49 per share. Notey Enter debits before credits. Problem 10-2A (Algo) 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 has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024,390 shares of preferred stock and 4,900 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: Narch 1 Issue 2,000 shares of common stoek for $51 per share. May 15 Purchase 490 shares of treasury stock for $44 per share. Jaly 10 Resell 290 ahares of treasury stock purchased on May 15 for $49 per whare. oetober 15 Issue 290 shares of preferred stock for $54 per share. December 1 Deelare a cash dividend on both eosmon and preferred stock of $1.40 per share to al1 atockholders of record on December 15. (Hint ? Dividends are not paid on treasury stock.) Decenber 31 Pay the cash dividends declared on December 1 . Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$390; Common Stock, \$49; Additional Paid-in Capital, \$80,500; and Retained Earnings, \$32,300. Net income for the year ended December 31,2024 , is $12,600. roblem 10-2A (Algo) Part 1 equired: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in he first account field.) Journal entry worksheet Record the issuance of 290 shares of preferred stock for $54 per share. Notee Enter debits before credits. Problem 10-2A (Algo) Record equity transactions and indicate the effect on the balance sheet equation ( (LO10- 2,103,104,105) [The following information applies to the questions displayed below] Donnie Hiliger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024, 390 shares of preferred stock and 4,900 shares of common stock bave been issued. The following transactions affect stockholders' equity during 2024 ; Nareh 1 May? 15 waly 10 betober 15 Decenber 1 Issue 2,000 shares of common stock for 551 per share. Purchase 490 ahares of treasury stock for $44 per share. Resel1 290 shares "of treasury atock purchased on May 15 for \$49 per share. Issue 290 shares of preferred stock for $54 per share. Declare a cash dividend on both cotmon and preferred stock of $1. 40 per share to all wtockholdera of record on December 15. (Hirtz Dividends dre fot paid on treasury atock.) Decenber 31. Ray the cash dividends declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$390; Common Stock, \$49; Additional Paid-in Capital, \$80,500; and Retained Earnings, \$32,300. Net income for the year ended December 31,2024 , is $12,600. Problem 10-2A (Algo) Part 1 required; Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" he first account field.) Journal entry worksheet Record the declaration of a cash dividend on both common and preferred stock of $1,40 per share to all stockholders. (Hint: Dividends are not paid on treasury stock.) Notek Enter debits before credits Problem 10-2A (Algo) 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 has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024,390 shares of preferred stock and 4,900 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 Issue 2,000 shares of common stock for $51 per'share. Kay 15 Purchase 490 shares of treasury stock for $44 per share. July 10 Resel1 290 shares of treasury stock purehased on May 15 for $49 per share. october 15 Issue 290 shares of preferred stoek for $54 per share. Decenber 1 Declare a cash dividend on both cosmon and preferred stock of $1.40 per share to al1 stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.) December 31 Pay the cash dividends deolared on December 1. Donnie Hiffiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$390; Common Stock, \$49; Additional Paid-in Capital, \$80,500; and Retained Earnings, \$32,300. Net income for the year ended December 31,2024 , is $12,600. roblem 10-2A (Algo) Part 1 equired: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in e first account field.) Journal entry worksheet Record the entry on December 15 , the date of record. Notex Enter deblts before credits. Problem 10-2A (Algo) 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 Hifiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024,390 shares of preferred stock and 4,900 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 Issue 2,000 shares of cormon stock for $51 per'share. Hay 15 Purchase 490 shares of treasury stock for $44 per share. July 10 Resel1 290 shares of treasury stock purchased on May 15 for $49 per share. october 15 Issue 290 shares of preferred stock for $54 per share. December 1 Declare a cash dividend on both common and preferred stoek of $1.40 per share to all stockhoIders of record on December 15. (Hint: Dividends are not paid on treasury stock.) Decenber 31 Pay the cash dividends declared on Decesber 1 . Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$390; Common Stock, \$49; Additional Paid-in Capital, \$80,500; and Retained Earnings, \$32,300. Net income for the year ended December 31,2024 , is $12,600. roblem 10-2A (Algo) Part 1 Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" he first account field.) Journal entry worksheet Record the payment of the cash dividends declared on December 1. Notex Enter debits before credits