continuation of number 3.

please answer all from numbers 1-5

1. On November 26, 2020, Pumpkin Pie receives Kitchen Equipment with a Market value of $100,000 and in exchange, Pumpkin Pie issues 8,000 shares of preferred stock with a Par Value of $10 per share. In the space below, prepare the Nov. 26, 2020 journal entry to record the issuance of the preferred stock. 4 points) Accounts Date 11/26/2020 DR CR 2. On August 21, 2020, Sweet Potato Corporation issues 100,000 shares of No Par Common stock in exchange for $500,000 in cash. In the space below, journalize the Aug. 21, 2020 journal entry to issue the No Par Common stock (3 points) Accounts Date 8/21/20 DR CR 3. Use the following Adjusted Trial Balance and Statement of Retained Earnings to prepare the CLASSIFIED BALANCE SHEET for Thanksgiving Company for November 30, 2020. (25 points) Thanksgiving Company Adjusted Trial Balance November 30, 2020 Account Title Balance Debit Credit $400,000 325,000 650.000 65,000 Cash Merchandise Inventory Land Equipment Accumulated Depreciation - Equipment Accounts Payable Salaries Payable Notes Payable (Long Term) Bonds Payable (Long Term) Common Stock Paid in Capital in Excess of Par-Common Preferred Stock Retained Earnings Dividends Net Sales Revenue Cost of Goods Sold Depreciation Expense - Equipment Salaries Expense Utilities Expense 22,000 10,000 19,000 17,000 600,000 150,000 200.000 250,000 86,000 78,000 280,000 38,000 11,000 29,000 4,000 250,000 86,000 78,000 280,000 Preferred Stock Retained Earnings Dividends Net Sales Revenue Cost of Goods Sold Depreciation Expense - Equipment Salaries Expense Utilities Expense Tax Expense 38,000 11,000 29,000 4,000 34,000 Total Thanksgiving Company Statement of Retained Earnings November 30, 2020 Retained Earnings, November 1, 2020 Net Income for the Year 586,000 164,000 Dividends (78,000) Retained Earnings, November 30, 2020 S172,000 4. Turkey Inc. purchased Land in exchange for a 10% long-term note payable in the amount of $500,000 on July 1, 2020. The note is payable over a 10 year term in $50,000 principal installments due on July 1 of each year, beginning July 1, 2021. At the time of each installment the interest due at that time is paid also. In the space below provide the following 3 journal entries: The July 1, 2020 entry to purchase the Land and put the note on the books, the Dec 31, 2020 adjusting entry for 6 months of interest, and the July 1, 2021 payment of the installment and interest. (9 Points) Accounts DR CR Date 7/1/20 12/31/20 7/1/21 5. On June 30, 2020, Cranberry Corp issued bonds at face value in the total amount of $725,000. The bonds pay interest at a 12% interest rate. The bonds pay semiannual interest payments on June 30 and December 31 of each year. The bonds mature in 5 years. In the space below, provide the following 3 journal entries: The June 30, 2020 entry for the issuance of the bonds, the Dec. 31, 2020 entry for the first interest payment, and the June 30, 2025 payment to pay off the Bonds at maturity (assume the interest is already paid, journalize only the bond payable payment). (9 points) Accounts Date 6/30/20 DR CR 12/31/20 6/30/25