answer part B and C

Part A In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 6,000,000 shares of common stock carrying a $1 par value, and 2,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2018, 4,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2 all 2,000,000 shares of preferred stock are issued at $25 per share. Required: 1. Prepare journal entries to record these transactions 2. Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2018. (Assume net income for the first quarter 2018 was $1.900,000.) Part B During 2018, the Nicklaus Corporation participated in three treasury stock transactions: a. On June 30, 2018, the corporation reacquires 280,000 shares for the treasury at a price of $12 per share. b. On July 31, 2018, 40,000 treasury shares are reissued at $15 per share. c. On September 30, 2018, 40,000 treasury shares are reissued at $10 per share. Required: 1. Prepare journal entries to record these transactions 2. Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30, 2018. (Assume net income for the second and third quarter was $3,400,000.) Part C On October 1, 2018. Nicklaus Corporation receives permission to replace its $1 par value common stock (6,000,000 shares authorized, 4,000,000 shares issued, and 3,800,000 shares outstanding) with a new common stock issue having a $.50 par value. Since the new par value is one-half the amount of the old, this represents a 2-for-1 stock split. That is, the shareholders will receive two shares of the $.50 par stock in exchange for each share of the $1 par stock they own. The $1 par stock will be collected and destroyed by the issuing corporation On November 1, 2018, the Nicklaus Corporation declares a $0.21 per share cash dividend on common stock and a $0.38 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2018, to shareholders of record on November 15, 2018 On December 2, 2018, the Nicklaus Corporation declares a 1% stock dividend payable on December 28, 2018, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 76,000 (0.01 7600,000) additional shares being issued to shareholders. Credit Part A Solution: Reg.1. Date General Journal Jan. 2 Cash (4,000,000 $10) Common Stock (4,000,000 $1) Paid-in Capital in excess of par-Common stock Debit $40,000,000 $ 4,000,000 $ 36,000,000 Jan. 2 Cash (2,000,000 $25) $50,000,000 Preferred Stock (2,000,000-$5) $ 10,000,000 Paid-in Capital in excess of par-Preferred stock $ 40,000,000 Reg. 2 Part A. NICKLAUS CORPORATION Balance Sheet- Shareholders' Equity Section 31-Mar-18 Shareholders' Equity Common Stock 4,000,000 Preferred Stock 10,000,000 Paid-in capital-excess of par 76,000,000 Retained earnings 1,900,000 Total shareholders' equity $ 91,900,000 Complete this question by entering your answers in the tabs below. Required 2 Part C Required 3 Part C Required 1 Part C Required 2 Part A Required 1 Part A Required 2 Part B Required 1 Part B Prepare journal entries to record these transactions. (If no entry is required for a transaction/event, se the first account field.) View transaction list Journal entry worksheet Print Record the reissuance of 40,000 treasury shares on September 30th. eferences Note: Enter debits before credits General Journal Debit Credit Date September 30 Record entry Clear entry View general journal 2. Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Ass for the fourth quarter was $2,900,000.) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018. Complete this question by entering your answers in the tabs below. Required 1 Part A Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part C Required 2 Part C Required 3 Part C Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30, 2018. (Assume net income for the second and third quarter was $3,400,000.) 20 NICKLAUS CORPORATION Balance Sheet - Shareholders' Equity Section September 30, 2018 Shareholders' equity Preferred stock Common stock Paid-in capital-excess of par (Paid-in capitalshare repurchase Retained earnings Less: Treasury stock Total shareholders' equity View transaction list Journal entry worksheet Record the entry for the 2-for-1 stock split. Note: Enter debits before credits. General Journal Debit Credit Date October 01 wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww - TI Record entry Clear entry View general journal 2. Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation for the fourth quarter was $2,900,000.) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018. Complete this question by entering your answers in the tabs below. 6.66 points Required 1 Part A Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part C Required 2 Part C Required 3 Part C Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assur income for the fourth quarter was $2,900,000.) NICKLAUS CORPORATION Balance Sheet - Shareholders' Equity Section December 31, 2018 Shareholders' equity References Total shareholders' equity Required 2 Part A Required i Part B Required 1 Part A Required 2 Part B Required 2 Part C Required 1 Part C Required 3 Part C Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018. (Amounts to be deducted should be minus sign. Enter your answers in thousands.) NICKLAUS CORPORATION Statement of Shareholders' Equity for the Year Ended Dec. 31, 2018 ($ in 000s) Additional Common Paid-in Retained Stock Capital Earnings Total Shareholders' Equity Preferred Stock Treasury Stock Jan. 2. 2018 Issuance of preferred stock Issuance of common stock Purchase of treasury stock Sale of treasury stock Net income Common cash dividends Preferred cash dividends Stock dividend December 31, 2018 0 0 o