27-bd92d577017100728/questions HW 2-Chapter 15 Question 7 of 19 -/25 E On January 5, 2020, Larkspur Corporation received a charter granting the right to lique 5,200 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 47,700 shares of $10 par value common stock It then completed these transactions Jan. 11 Feb. 1 July 29 Issued 21,200 shares of common stock at $16 per share. Issued to Sanchez Corp. 4,200 shares of preferred stock for the following assets: equipment with a fair value of $54,900; a factory building with a fair value of $170,000; and land with an appraised value of $252.000 Purchased 1,900 shares of common stock at $16 per share. (Use cost method) Sold the 1,900 treasury shares at $15 per share. Declared a $0.40 per share cash dividend on the common stock and declared the preferred dividend, Closed the Income Summary account. There was a $188,100 net income. Aug. 10 Dec 31 Dec. 31 (a) Record the journal entries for the transactions listed above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter for the amounts. Record entries in the order displayed in the problem statement. Round answers to decimal places, eg. $5,275.) Credit Debit Date Account Titles and Explanation Question 7 of 19 -/25 (a) Record the journal entries for the transactions listed above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record entries in the order displayed in the problem statement. Round answers to decimal places, es $5,275.) Date Account Titles and Explanation Debit Credit Feb. 1 -player/index.html?launchid=62438816-0675-42a7-bd92-d57787106728/questions + HW 2 -Chapter 15 Question 7 of 19 -725 HII Aug. 10 e Textbook and Media List of Accounts