2A (similar to) Question Help Clearborn Manufacturing Co. completed the following transactions during 2018: (Click the icon to view the transactions.) Read the requirements Requirement 1. Record the transactions in Clearborn's general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank) Jan 16: Declared a cash dividend on the 4%, 5100 par noncumulative preferred stock (950 shares outstanding) Declared a 50.40 per share dividend on the 85,000 shares of 52 par value common stock outstanding. The date of record is January 31, and the payment date is February 15, Date Accounts and Explanation Debit Credit Jan 16 Cash Dividends 37.800 Dividends Payable-Preferred 3.800 34000 Dividends Payable-Common Declared a cash dividend Feb. 15: Paid the cash dividends Choose from any list or enter any number in the input fields and then click Check Answer Check Answer Clear All All parts showing Read the requirements. Declared a cash dividend Feb. 15: Paid the cash dividends. Debit Credit Date Feb 15 Accounts and Explanation Dividends Payable Preferred Dividends Payable-Common Cash 3,800 34.000 37.800 Paid cash dividend. Jun 10: Split common stock 2-for-1 Choose from any list or enter any number in the input fields and then click Check Answer Clear All All parts showing (Click the icon to view the transactions.) Read the requirements. Paid cash dividend. Jun. 10: Split common stock 2-for-1 Date Debit Credit Accounts and Explanation No entry required Jun. 10 Jul. 30 Declared a 40% stock dividend on the common stock. The market value of the common stock was $8 per sha A. . Choose from any lst or enter any number in the input fields and then click Check Answer Read the requirements. Jul. 30: Declared a 40% stock dividend on the common stock. The market value of the common stock was 58 per share Date Debit Credit Jul 30 Accounts and Explanation Stock Dividends Common Stock Dividend Distributable 68 000 68,000 Declared a 40% stock dividend Aug 15: Distributed the stock dividend, Accounts and Explanation Debit Credit Choose from any ist or enter any number in the input fields and then click Check Answer Declared a 40% stock dividend. Aug. 15: Distributed the stock dividend. Date Debit Credit Aug. 15 Accounts and Explanation Common Stock Dividend Distributable Common Stock-$1 Par Value 68,000 68,000 Issued 4096 stock dividend. Oct. 26. Purchased 1600 shares of treasury stock at $10 per share Date Accounts and Explanation Debit Credit men from any list or enter any number in the input fields and then click Check Answer Issued 40% stock dividend. Oct. 26: Purchased 1,600 shares of treasury stock at $10 per share. Date Debit Credit Oct. 26 Accounts and Explanation Treasury Stock-Common Cash 16,000 16,000 Purchased treasury stock. Nov. 8: Sold 800 shares of treasury stock for $12 per share. Debit Credit Date Accounts and Explanation e and then click Check Answer Nov. 8: Sold 800 shares of treasury stock for $12 per share. Date Accounts and Explanation Debit Credit Nov. 8 Cash 9,600 8.000 Treasury Stock-Common Paid-In Capital from Treasury Stock Transactions 1.600 Sold treasury stock above cost. Nny 30. Sold 700 shares of treasury stock for $7 per share Clearborn Manufacturing Co. completed the following transactions during 2018: (Click the icon to view the transactions.) Read the requirements. Nov. 30: Sold 700 shares of treasury stock for $7 per share. Date Accounts and Explanation Debit Credit Nov. 30 Cash 4,900 1,600 500 Paid-In Capital from Treasury Stock Transactions Retained Earnings Treasury Stock-Common Sold treasury stock below cost. 7,000 Whentian fthe halanna chaat e of nerambar 31 2018 AS Read the requirements Requirement 2. Prepare the Clearborn's stockholders' equity section of the balance sheet as of December 31, 2018. Assume that Clearbom was issue 1,000 shares of preferred stock and 400,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending retained earnings as of December 31, 2018, is $1,050,000. (Use parentheses or a minus sign for amounts to be subtracted) Clearborn Manufacturing, Co. Balance Sheet (Partial) December 31, 2018 Stockholders' Equity Paid-In Capital Preferred Stock-4%, 5100 Par Value shares authorized 950 shares issued and outstanding shares authorized Common Stock-$2 Par Value shares outstanding shares issued Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All Check Answer born Manufacturing Co. completed the following transactions during 2018 (Click the icon to view the transactions.) Read the requirements. December 31, 2018 Stockholders' Equity shares authorized shares authorized Paid-In Capital Preferred Stock-4%. $100 Par Value; 950 shares issued and outstanding Common Stock-$2 Par Value: shares issued Total Paid-in Capital Retained Earnings Treasury Stock-Common shares outstanding Total Stockholders' Equity Choose from any list or enter any number in the input helds and then click Check
