Gloucester Company has the following adjusted trial balance at the end of the current year. Cash dividends of $620 were declared at the end of the year, and 500 additional shares of common stock ( $0.10 par value per share) were issued at the end of the year for $3,080 in cash (for a total at the end of the year of 840 shares). These effects are included below: Prepare the closing entry at the end of the current year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the closing entry at the end of the current year. fote: Enter debits before credies. Wintertime Inc. purchased a new stamping machine at the beginning of the year at a cost of $997,500. The estimated residual value was $52,500. Assume that the estimated useful life was flve years and the estimated productive life of the machine was 300,000 units. Required: Complete a separate depreciation schedule using Straight-line depreciation. Complete this question by entering your answers in the tabs below. Complete a depreciation schedule using the straight-line method. Rockaway Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, $18 par value, 12,500 shares authorized. During the year, the following selected transactions were completed: a. Sold 5,800 shares of common stock for cash at $36 per share. b. Sold 2,300 shares of common stock for cash at $41 per share. c. At year-end, the company reported net income of $6,500. No dividends were declared. quired: Prepare the journal entries required to record the sale of common stock in (a) and (b). te: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 2 Sold 5,800 shares of common stock for cash at $36 per share. Note: Enter debits before credits. Rockaway Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, \$18 par value, 12,500 shares authorized. During the year, the following selected transactions were completed: a. Sold 5,800 shares of common stock for cash at $36 per share. b. Sold 2,300 shares of common stock for cash at $41 per share. c. At year-end, the company reported net income of $6,500. No dividends were declared. equired: Prepare the journal entries required to record the sale of common stock in (a) and (b). ote: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Sold 2,300 shares of common stock for cash at $41 per share. Note: Enter debits before credits