Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

con to view the transactions.) rements. More info Feb Jun Aug 13 Issued 5,200 shares of common stock for $13 per share. 7 Declared the

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
con to view the transactions.) rements. More info Feb Jun Aug 13 Issued 5,200 shares of common stock for $13 per share. 7 Declared the regular cash dividend on the preferred stock. 24 Paid the cash dividend. 9 Declared and distributed a 10% stock dividend on the common stock. Market price of the common stock was $16 per share. 26 Reacquired 1,000 shares of common stock as treasury stock, paying $18 per share. 20 Sold 600 shares of the treasury stock for $23 per share. 31 Declared a cash dividend of $0.30 per share on the outstanding common stock; dividends will be paid in January, 2020. Oct Nov Dec Print Done Data table Assets Amount Current assets .... $ 33,000 118,500 Property and equipment, net... $ 151,500 Total assets $ 37,400 Liabilities and Equity Liabilities ... Stockholders' equity: $0.90 cumulative preferred stock, $5 par, 500 shares issued Common stock, $12 par, 5,800 shares issued Paid-in capital in excess of par-common Retained earnings 2,500 69,600 . 18,000 24,000 $ 151.500 Total liabilities and equity Print Done Requirement 1. Joumalize Hamburg Jewelry's transactions. Explanations are not required. (Record debit Feb 13: Issued 5,200 shares of common stock for $13 per share. Journal Entry Accounts Date Debit Credit Feb 13 Jun 7: Declared the regular cash dividend on the preferred stock. Journal Entry Accounts Date Debit Credit Jun 7 Jun 24: Paid the cash dividend. Journal Entry Accounts Date Debit Credit Jun 24 Hug 9: and distbuted a 10% stock dividend on the common stock Market price of the common stock Journal Entry Accounts Debit Credit Date Aug 9 Oct 26: Reacquired 1,000 shares of common stock as treasury stock, paying $18 per share. Journal Entry Accounts Date Debit Credit Oct 26 Nov 20: Sold 600 shares of the treasury stock for $23 per share. Journal Entry Accounts Date Debit Credit Nov 20 Dee Deenda cash band 0.30 per here on the weekend wit beperthwy, 2009, Paul www telewi wewe) Journal Ace De Date Dec 31 Cream www.ba Requirement com 2018 Hanturg Basheet December 11, 2015 Body TO inte

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Management Strategies For Business Decisions

Authors: Ronald Hilton, Michael Maher, Frank Selto

3rd Edition

0072830085, 978-0072830088

More Books

Students also viewed these Accounting questions

Question

5. Explain the supervisors role in safety.

Answered: 1 week ago