11. Thurman Comfort Specialists, Inc. reported the following stockholders' equity on its balance sheet at June 30, 2018: (Click the icon to view the partial balance sheet.) Read the requirements Requirement 1. Identify the different classes of stock that Thurman Comfort Specialists has outstanding. Thurman has preferred stock and common stock outstanding. Requirement 2. What is the par value per share of Thurman Comfort Specialists' preferred stock? The par value of preferred stock is $ 5 per share. Requirement 3. Make two summary journal entries to record issuance of all the Thurman Comfort Specialists' stock for cash. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal Begin by recording the issuance of the preferred stock. Date Accounts Debit Credit (2) Next, record the issuance of the common stock. Date Accounts Debit Credit Requirement 4. No preferred dividends are in arrears. Journalize the declaration of a S100,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. Use separate Dividends Payable accounts for preferred and common stock. An explanation is not required. (Record debits first, then credits. Exclude explanations from any Journal entries.) Begin by recording the declaration of a $100.000 dividend at June 30, 2018. Date Accounts Debit Credit Jun 30 (11) (12) Record the payment of the dividend on July 20, 2018. Date Accounts Debit Credit Jul. 20 (13) (15) (16) 1: Data Table $ 1,200,000 Stockholders' Equity Paid-In Capital: Preferred Stock-8%, ? Par Value: 675,000 shares authorized, 240,000 shares issued and outstanding Common Stock-$1 Par Value; 6,000,000 shares authorized, 1,310,000 shares issued and outstanding Paid In Capital in Excess of Par-Common Total Paid-In Capital 1,310,000 2,500,000 5,010,000 12,300,000 Retained Earnings $ 17,310,000 Total Stockholders' Equity 2: Requirements Print 1. Identify the different classes of stock that Thurman Comfort Specialists has outstanding. 2. What is the par value per share of Thurman Comfort Specialists' preferred stock? 3. Make two summary journal entries to record issuance of all the Thurman Comfort Specialists' stock for cash. Explanations are not required. No preferred dividends are in arrears. Journalize the declaration of a $100,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. Use separate Dividends Payable accounts for preferred and common stock. An explanation is not required. (1) O Dividends Payable-Preferred O Cash O Paid-In Capital in Excess of Par-Common O Common Stock-$1 Par Value O Preferred Stock O Dividends Payable-Common O Retained Earnings (2) O O Cash O Common Stock-$1 Par Value O Dividends Payable-Common Dividends Payable-Preferred O Paid-In Capital in Excess of Par-Common Preferred Stock O Retained Earnings (3) O O Cash O Common Stock-$1 Par Value Dividends Payable - Common O Dividends Payable-Preferred O Paid-In Capital in Excess of Par-Common O Preferred Stock Retained Earnings (4) O O Dividends Payable-Preferred O Cash O Paid-In Capital in Excess of Par-Common O Common Stock-$1 Par Value O Preferred Stock O Dividends Payable-Common Retained Earnings (5) O O Cash Common Stock-$1 Par Value O Dividends Payable-Common Dividends Payable-Preferred O Paid In Capital in Excess of Par-Common O Preferred Stock Retained Earnings (6) O O Cash Common Stock-$1 Par Value O Dividends Payable-Common Dividends Payable-Preferred O Paid In Capital in Excess of Par-Common O Preferred Stock Retained Earnings (7) O O Cash Common Stock-$1 Par Value O Dividends Payable-Common O Dividends Payable-Preferred O Pald-In Capital in Excess of Par-Common O Preferred Stock Retained Earnings (8) O Dividends Payable-Preferred O Cash O Pald-in Capital in Excess of Par-Common O Common Stock-$1 Par Value O Preferred Stock Dividends Payable-Common Retained Earnings O Retained Earnings (9) O O Dividends Payable-Common O Cash O Dividends Payable-Preferred Cash Dividends O Paid-In Capital in Excess of Par-Common Common Stock-$1 Par Value O Preferred Stock O Retained Earnings (10) O Cash Cash Dividends O Common Stack-$1 Par Value O Dividends Payable-Common Dividends Payable-Preferred Paid-In Capital in Excess of Par-Common O Preferred Stock (10) O Retained Earnings Cash O Cash Dividends O Common Stock-$1 Par Value Dividends Payable-Common Dividends Payable-Preferred O Paid-In Capital in Excess of Par-Common O Preferred Stock O Retained Earnings (11) O Cash O Cash Dividends O Common Stock-$1 Par Value O Dividends Payable-Common Dividends Payable-Preferred O Paid-In Capital in Excess of Par-Common O Preferred Stock Retained Earnings (12) O Dividends Payable-Common O Cash Dividends Payable-Preferred O Cash Dividends O Paid-In Capital in Excess of Par-Common Common Stock-$1 Par Value O Preferred Stock Retained Earnings (13) O O Cash O Cash Dividends Common Stock-$1 Par Value Dividends Payable-Common O Dividends Payable-Preferred O Paid-In Capital in Excess of Par-Common O Preferred Stock O Retained Earnings (14) O O Cash Cash Dividends O Common Stack-$1 Par Value Dividends Payable-Common O Dividends Payable-Preferred O Paid-In Capital in Excess of Par-Common O Preferred Stock O Retained Earnings (15) O O Dividends Payable-Common O Cash O Dividends Payable-Preferred O Cash Dividends O Paid-In Capital in Excess of Par-Common Common Stock-$1 Par Value O Preferred Stock (16) O O Retained Earnings O Dividends Payable-Common Cash Dividends Payable-Preferred Cash Dividends O Paid-In Capital in Excess of Par-Common Common Stock-$1 Par Value O Preferred Stock