13 (7.5 Grades) Hamad Town Company had the following balances in the stockholders' equity accounts at Dec. 31, 2020 Common stock, $20 par, 100,000 shares authorized, 30,000 shares issued and outstanding $600,000 Paid in Capital in Excess of Par Value, Common Stock. Retained Eamings The following transactions occurred during 2021: 1. Eeb. 20. Purchased 4,000 of its own shares for $30 per share 2 March 10 Declared a $1 per share cash dividend on the outstanding common stock 3. April 07: Paid the cash dividends declared early in March 10 4. May 20, Sold all treasury shares for $32 each 400,000 1,000,000 5. Oct. 1: Declared 10% stock dividends on the outstanding common stock for the record of Nov. 1 and to be distributed on Dec. 10, The market value of stock on Oct. 1 wan 175 p share. 6. Dec 10, Distributed the shares which declared on Oct. 1. 7. Dec 25: Implemented a 2-for-1 stock split, when the market value of stock was $20 per share NOTE: If there is no entry, please write: "NO ENTRY" Required: Prepare Journal entries to record transactions that occurred during 2021 v Required: Prepare Journal entries to record transactions that occurred during 2021. Example: on 1 January 2020, XYZ Company pays $10,000 cash to purchase land CLEARLY INDICATE THE DEBITS & CREDITS Answer 1/1/2020 Dr. Land Cr. Cash 10,000 10,000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac), B I US Paragraph P Arial v 10pt > !!! hp