Cal Statx meetix Home Degree x Econo homeworkid=610816932&questionid=3flushed=false&cid=6623292¢erwin Question 4, PF13-44A (s... Part of HW Score: 81 Points: 3 2023, reported the following stockholders' equity Sheet) Data table $ Stockholders' Equity Paid-in Capital Common Stock-$10 Par Value: 200,000 shares authorized, 28,000 shares issued and outstanding Pald-in Capital in Excess of Par-Common Total Pald-in Capital Retained Earnings Total Stockholders Equity 280,000 350.000 530,000 162.000 $ 792.000 Print Done Debit Credit MacBook Air & FS DU 8 F7 % & & The balance sheet of Millan Management Consulting, Inc. at December 31, 2023, reported the following stockholders' equity Click the icon to view the stockholders' equity section of the balance sheet.) During 2024, Millan completed the following selected transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on Feb. 6: Declared a 5% stock dividend on the common stock. The market value of Millan's stock was $22 per share. Date Accounts and Explanation Debit Credit Feb. 6 Stock Dividends 30,800 Common Stock Dividend Distributable 14,000 Paid-In Capital in Excess of Par-Common 16.800 Declared a 5% stock dividend. Feb. 15: Distributed the stock dividend. Date Accounts and Explanation Feb. 15 Common Stock Dividend Distributable Common Stock-$10 Par Value Debit Credit 14,000 14,000 Issued a 5% stock dividend. 1.29. Purchased 1,800 shares of treasury stock at $22 per share. Date Accounts and Explanation Debit Credit Debit Credit Jul 29: Purchased 1,800 shares of treasury stock at $22 per share. Date Accounts and Explanation Jul. 29 Treasury Stock-Common Cash 39,600 39,600 Purchased treasury stock Nov. 27. Declared a $0.20 per share cash dividend on the common stock outstanding. (Round your answers to the nearest Date Accounts and Explanation Debit Credit Nov. 27 Cash Dividends 5,520 Dividends Payable-Common 5,520 Declared cash dividend Declared cash dividend Requirement 2. Prepare a retained earnings statement for the year ended December 31, 2024. Assume Milan's net income for the year was $81.000 Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal (Check your spelling carefully an Millan Management Consulting, Inc. Statement of Retained Earnings Your Ended December 31, 2024 Retained Earnings, January 1, 2024 162.000 Net income for the year 243,000 Stock dividend declared (30,800) 81,000 Cash dividends declared (5,520) Retained Earrings, December 31, 2024 206,680 Retained Earnings, December 31, 2024 Requirement 3. Prepare the stockholders' equity section of the balance sheet at December 31, 2024. (Use pare Millan Management Consulting, Inc. Balance Sheet (Partial) December 31, 2024 Stockholders' Equity Pald-In Capital Total Paid-In Capital Total Stockholders' Equity Cal Statx meetix Home Degree x Econo homeworkid=610816932&questionid=3flushed=false&cid=6623292¢erwin Question 4, PF13-44A (s... Part of HW Score: 81 Points: 3 2023, reported the following stockholders' equity Sheet) Data table $ Stockholders' Equity Paid-in Capital Common Stock-$10 Par Value: 200,000 shares authorized, 28,000 shares issued and outstanding Pald-in Capital in Excess of Par-Common Total Pald-in Capital Retained Earnings Total Stockholders Equity 280,000 350.000 530,000 162.000 $ 792.000 Print Done Debit Credit MacBook Air & FS DU 8 F7 % & & The balance sheet of Millan Management Consulting, Inc. at December 31, 2023, reported the following stockholders' equity Click the icon to view the stockholders' equity section of the balance sheet.) During 2024, Millan completed the following selected transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on Feb. 6: Declared a 5% stock dividend on the common stock. The market value of Millan's stock was $22 per share. Date Accounts and Explanation Debit Credit Feb. 6 Stock Dividends 30,800 Common Stock Dividend Distributable 14,000 Paid-In Capital in Excess of Par-Common 16.800 Declared a 5% stock dividend. Feb. 15: Distributed the stock dividend. Date Accounts and Explanation Feb. 15 Common Stock Dividend Distributable Common Stock-$10 Par Value Debit Credit 14,000 14,000 Issued a 5% stock dividend. 1.29. Purchased 1,800 shares of treasury stock at $22 per share. Date Accounts and Explanation Debit Credit Debit Credit Jul 29: Purchased 1,800 shares of treasury stock at $22 per share. Date Accounts and Explanation Jul. 29 Treasury Stock-Common Cash 39,600 39,600 Purchased treasury stock Nov. 27. Declared a $0.20 per share cash dividend on the common stock outstanding. (Round your answers to the nearest Date Accounts and Explanation Debit Credit Nov. 27 Cash Dividends 5,520 Dividends Payable-Common 5,520 Declared cash dividend Declared cash dividend Requirement 2. Prepare a retained earnings statement for the year ended December 31, 2024. Assume Milan's net income for the year was $81.000 Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal (Check your spelling carefully an Millan Management Consulting, Inc. Statement of Retained Earnings Your Ended December 31, 2024 Retained Earnings, January 1, 2024 162.000 Net income for the year 243,000 Stock dividend declared (30,800) 81,000 Cash dividends declared (5,520) Retained Earrings, December 31, 2024 206,680 Retained Earnings, December 31, 2024 Requirement 3. Prepare the stockholders' equity section of the balance sheet at December 31, 2024. (Use pare Millan Management Consulting, Inc. Balance Sheet (Partial) December 31, 2024 Stockholders' Equity Pald-In Capital Total Paid-In Capital Total Stockholders' Equity