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The Stockholders' Equity section of the balance sheet of Willy Corporation on January 1, 2019, is shown below, selected transactions for the year folow: Stockholders' Equity Preferred Stock (10% cumulative, $1e par value, 200,000 shares authorized) Issued and Outstanding, 7,3ee Shares Paid-in Capital in Excess of Par Value Common Stock (no-par value, $50 stated value, 130,000 shares authorized) Issued and Outstanding, 1,300 Shares Paid-in Capital in Excess of Stated Value Total Paid-in Capital Retained Earnings $73,000 7,300 $ 80, 300 65,000 2,600 67,600 $147,900 123,000 $270,900 Total Stockholders' Equity DATE TRANSACTIONS Feb. 15 Repurchased 4,200 shares of the outstanding preferred stock for $46, 200 in cash. The stock is to be held as treasury stock. State law requires that an anount of retained earnings equal to the cost of treasury stock held Rust be appropriated. Record the purchase and the appropriation of retained earnings. 2-for-1 stock split of shareholder will own twice as many shares as originally Owned. Stated value is reduced to $25 per share. Date of record is March 15. Date of issue of new shares is April 1. Mar. 4 Declared common stock. Each April 1 Issued new shares called for by split. June 17 Declared seniannual dividend of 5 percent on preferred stock, to be paid on July 12 to holders of record on June 30. July 12 Paid cash dividend on preferred stock. Sept. 25 Purchased 400 shares of outstanding preferred stock at Sie per share to be held as treasury stock. Record appropriated retained earnings equal to cost of the treasury stock. Dec. 15 Declared semiannual cash dividend of 5 percent on preferred stock to be paid on 3anuary 12 to holders of record on December 30. 15 Declared cash dividend of $1.10 per share on common stock to be paid on January 12 to holders of record on Decenber 30. 15 Accepted title to a tract of land with an appraised value of $143,000 from the City of Greenville. The tract is to be used as a building site for the corporation's new factory. 31 Had net incone after taxes for the year of $63,000. Give the entry to close the Income Sumnory account. Required: 1. Open the stockholders' equity accounts in the general ledger and enter the beginning balances. In addition to the accounts listed. open the following accounts: Doneted Cepital, Treasury Steck-Preferred, Retained Barninge-Approprieted for Treasury Stock 2 Record the transections in general journal form 3. Post the transections to the stockholders equity accounts 4. Prepere the Stockholders' Equity section of the balance sheet Analyze: if Willy Corporation had not repurchased prefered stock to place in treasury, what total stockholders' equity December 31, 2019? would be reported on Complete this question by entering your answer in the tabs below. General Journal Ledger Accounts Balance Sheet Analyze Record the transactions in general journal form. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit Feb 15, 2019 Treasury stock-Preferred Cash Feb 15, 2019 Retained eamings Retained eanings Appropriated No journal entry required Mar 04, 2019 No journal entry required Apr 01, 2019 Retained earnings Jun 17, 2019 Dividends payable-Preferred Jun 30, 2019 No journal entry required Jul 12, 2019 Dividends payable-Preferred Cash Sep 25, 2019 Treasury stock-Prefered Cash Retained earnings Sep 25, 2019 Retained earnings-Appropriated Dec 15, 2019 Retained earnings 10 Retained earning Appropriated 11 Dec 15, 2019 Retained earnings Dividends payable-Common 12 Dec 15, 2019 Land Donated capital 13 Dec 31, 2019 No journal entry required Dec 31, 2019 14 Income summary Retained eamings Ledger Accounts le 2. December 31, 2019? Complete this question by entering your answer in the tabs below. General Journal Ledgen Accounts Balance Sheet Analyze Post the beginning balances & the above transactions to the stockholders' equity accounts. Paid-in Capital in Excess of Par Value-Preferred 10% Preferred Stock, $10 Par Account No. 301 Account No. 305 Date Debit Credit Balance Date Debit Credit Balance Jan 01, 2019 Jan 01, 2019 Common Stock, No Par, Stated Value, $25 Paid in Capital in Excess of Stated Valuo-Common Account No. 311 Account No. 315 Date Debit Credit Balance Date Debit Credit Balance Jan 01, 2019 Jan 01, 2019 Donated Capital Acceyat No. 371 Treasury Stock-Preferred Account No. 372 Date Debit Credit Balance Date Debit Credit Balance Dec 15, 2019 Feb 15, 2019 Sep 25, 2019 Retained Earmings Retained Earmings Appropriated for Treasury Stock Account No. 301 Account No. 32 Date Debit Credit Balance Date Debit Credit Balance Feb 15, 2019 Jan 01, 2019 Feb 15. 2019 un 17, 2019 Sep 25, 2019 Sep 25, 2019 Dec 15, 2019 Dec 15, 2019 Dec 31, 2019 Balance Sheet> The Stockholders' Equity section of the balance sheet of Willy Corporation on January 1, 2019, is shown below, selected transactions for the year folow: Stockholders' Equity Preferred Stock (10% cumulative, $1e par value, 200,000 shares authorized) Issued and Outstanding, 7,3ee Shares Paid-in Capital in Excess of Par Value Common Stock (no-par value, $50 stated value, 130,000 shares authorized) Issued and Outstanding, 1,300 Shares Paid-in Capital in Excess of Stated Value Total Paid-in Capital Retained Earnings $73,000 7,300 $ 80, 300 65,000 2,600 67,600 $147,900 123,000 $270,900 Total Stockholders' Equity DATE TRANSACTIONS Feb. 15 Repurchased 4,200 shares of the outstanding preferred stock for $46, 200 in cash. The stock is to be held as treasury stock. State law requires that an anount of retained earnings equal to the cost of treasury stock held Rust be appropriated. Record the purchase and the appropriation of retained earnings. 2-for-1 stock split of shareholder will own twice as many shares as originally Owned. Stated value is reduced to $25 per share. Date of record is March 15. Date of issue of new shares is April 1. Mar. 4 Declared common stock. Each April 1 Issued new shares called for by split. June 17 Declared seniannual dividend of 5 percent on preferred stock, to be paid on July 12 to holders of record on June 30. July 12 Paid cash dividend on preferred stock. Sept. 25 Purchased 400 shares of outstanding preferred stock at Sie per share to be held as treasury stock. Record appropriated retained earnings equal to cost of the treasury stock. Dec. 15 Declared semiannual cash dividend of 5 percent on preferred stock to be paid on 3anuary 12 to holders of record on December 30. 15 Declared cash dividend of $1.10 per share on common stock to be paid on January 12 to holders of record on Decenber 30. 15 Accepted title to a tract of land with an appraised value of $143,000 from the City of Greenville. The tract is to be used as a building site for the corporation's new factory. 31 Had net incone after taxes for the year of $63,000. Give the entry to close the Income Sumnory account. Required: 1. Open the stockholders' equity accounts in the general ledger and enter the beginning balances. In addition to the accounts listed. open the following accounts: Doneted Cepital, Treasury Steck-Preferred, Retained Barninge-Approprieted for Treasury Stock 2 Record the transections in general journal form 3. Post the transections to the stockholders equity accounts 4. Prepere the Stockholders' Equity section of the balance sheet Analyze: if Willy Corporation had not repurchased prefered stock to place in treasury, what total stockholders' equity December 31, 2019? would be reported on Complete this question by entering your answer in the tabs below. General Journal Ledger Accounts Balance Sheet Analyze Record the transactions in general journal form. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit Feb 15, 2019 Treasury stock-Preferred Cash Feb 15, 2019 Retained eamings Retained eanings Appropriated No journal entry required Mar 04, 2019 No journal entry required Apr 01, 2019 Retained earnings Jun 17, 2019 Dividends payable-Preferred Jun 30, 2019 No journal entry required Jul 12, 2019 Dividends payable-Preferred Cash Sep 25, 2019 Treasury stock-Prefered Cash Retained earnings Sep 25, 2019 Retained earnings-Appropriated Dec 15, 2019 Retained earnings 10 Retained earning Appropriated 11 Dec 15, 2019 Retained earnings Dividends payable-Common 12 Dec 15, 2019 Land Donated capital 13 Dec 31, 2019 No journal entry required Dec 31, 2019 14 Income summary Retained eamings Ledger Accounts le 2. December 31, 2019? Complete this question by entering your answer in the tabs below. General Journal Ledgen Accounts Balance Sheet Analyze Post the beginning balances & the above transactions to the stockholders' equity accounts. Paid-in Capital in Excess of Par Value-Preferred 10% Preferred Stock, $10 Par Account No. 301 Account No. 305 Date Debit Credit Balance Date Debit Credit Balance Jan 01, 2019 Jan 01, 2019 Common Stock, No Par, Stated Value, $25 Paid in Capital in Excess of Stated Valuo-Common Account No. 311 Account No. 315 Date Debit Credit Balance Date Debit Credit Balance Jan 01, 2019 Jan 01, 2019 Donated Capital Acceyat No. 371 Treasury Stock-Preferred Account No. 372 Date Debit Credit Balance Date Debit Credit Balance Dec 15, 2019 Feb 15, 2019 Sep 25, 2019 Retained Earmings Retained Earmings Appropriated for Treasury Stock Account No. 301 Account No. 32 Date Debit Credit Balance Date Debit Credit Balance Feb 15, 2019 Jan 01, 2019 Feb 15. 2019 un 17, 2019 Sep 25, 2019 Sep 25, 2019 Dec 15, 2019 Dec 15, 2019 Dec 31, 2019 Balance Sheet>