Do question 3 and also present the relevant portion of balance sheet for q1, q2 and q3 please.

deadline is tomorrow night.

Journalize transactions and prepare stockholders' equity section. (LO 2, 3) Financial Statement Rolman Corporation is authorized to issue 1,000,000 shares of $5 par value common stock. In its first year, the company has the following stock transactions. Jan. 10 Issued 400,000 shares of stock at $8 per share. July 1 Issued 100,000 shares of stock for land. The land had an asking price of $900,000. The stock is currently selling on a national exchange at $8.25 per share. Sept. 1 Purchased 10,000 shares of common stock for the treasury at $9 per share. Dec. 1 Sold 4,000 shares of the treasury stock at $10 per share. Instructions a. Journalize the transactions b. Prepare the stockholders' equity section assuming the company had retained earnings of $200.000 at December 31 and an accumulated other comprehensive income of $105.000 Solution 1. (LO 2) Bostick Co. had the following transactions during the current period. Journalize issuance of common and preferred stock and purchase of treasury stock. Mar. 2 Issued 4,000 shares of $1 par value common stock to attorneys in payment of a bill for $35,000 for services performed in helping the company to incorporate June 12 issued 50,000 shares of $1 par value common stock for cash of $360,000 July 11 Issued 2,000 shares of $100 par value preferred stock for cash at $120 per share. Nov. 28 Purchased 2,000 shares of treasury stock for $70,000. 11 E13.5 (LO 2) Quay Co. had the following transactions during the current period. Journalize issuance of common and preferred stock and purchase of treasury stock. Mar. Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $30,000 2 for services performed in helping the company to incorporate, June Issued 60,000 shares of $5 par value common stock for cash of $375,000. 12 July Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share. 11 Nov. Purchased 2,000 shares of treasury stock for $80,000. 28