(4.5 Grades) On January 1, 2021, the stockholders' equity section of Seef Inc. was as follows: Common stock ($10 par value) $400,000; paid-in (contributed) capital in excess of par value $200,000, and retained earnings $150,000. During the year, the following treasury stock transactions occurred. March 5 Purchased 6,000 shares for cash at $16 per share. April 25: Sold 4,000 treasury shares for cash at $18 per share June 25 Sold 2,000 treasury shares for cash at $11 per share Required: Prepare journal entres to record the above treasury stock transactions CLEARLY INDICATE THE DEBITS & CREDITS Example: XYZ Company pays $15,000 cash to purchase land Answer Dr. Land Cr. Cashi 15,000 15,000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) BIUS Paragraph Anal 10pt < IX D 32 Question 14 3 points Save Alt (3 Grades) On January 1, 2018, Manama Company has 8% 80,000 shares of $20 par value, Cumulative preferred stock and 280,000 shares of common stock authorized, issued and outstanding at $5 par value The Company declared and paid cash dividends as follows Year 2018 2019 2020 Dividends $100,000 $220,000 $380,000 Required: In the below table, determine the amount of cash dividends distributed to each class of shares over the three years. Please: Present each year in a separate line, Moving to another question will save this response. Question 13 The appropriate section in the statement of cash flows for reporting conversion of preferred stock into common stock is OA Operating activities Question 13 1 points OB. Investing activities OC. Not reported on the cash flows statement COD. Financing activities Moving to another question will save this response. Questions Moving to another question will save this response. Question 12 XYZ Inc. issued 6,000 shares of $100 par value stock for $700,000 cash The total amount of contributed capital in excess of paris: COA $700,000 OB. $600,000 Oc. 50. OD. $100,000 Question 12 of 1 points