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Hamad Town Company had the following balances in the stockholders' equity accounts at Dec 31, 20 Common stock, $10 par, 50,000 shares authorized, 30,000 shares
Hamad Town Company had the following balances in the stockholders' equity accounts at Dec 31, 20 Common stock, $10 par, 50,000 shares authorized, 30,000 shares dang -Paid in Capital in Excess of Par Valen, Common Stock -Retained Earings The following transactions occurred during 2021: 1. Feb. 20, Purchased 2,000 of its own shares for 5 16 per share 2. March 10 Declared a $2 per share cash dividend on the outstanding common stock 3. April 07: Paid the cash dividends declared early in March 10. 4 May 20, Sold all treasury shares for 319 each 3300.000 200,000 500,000 5. Oct. 1. Declared 10% stock dividends on the outstanding common stock for the record of Nov 1 and to be debuted on Dec 10, The market value of stock on Od 1 was $14 per sh 6.Dec. 10. Distributed the shares which declared on Oct. 11 7. Dec. 25: Implemented a 2-for-1 stock spit, when the market value of stock was $26 per share NOTE: If there is no entry, please write: "NO ENTRY" Required: Prepare Journal entries to record transactions that occurred during 2021 Question 15 (7 Grades) The following comparative balance sheets 2019 & 2020 and additional information for "National Company as Assets Cash Dec. 31. 2020 Dec. 31. 2019 $156,000 Accounts Receivable $26,000 52,000 48,000 Inventory and supplies 30,000 58,000 Investments 0 36,000 Machines 114,000 104,000 Accumulated depreciation-Machines (28,000) (20,000) Total Assets $324,000 $252,000 Liabilities & Stockholders' Equity Note payable $ 74,000 $54,000 Bonds payable (long-term) 74,000 94,000 Common Stock 80,000 44,000 96,000 60.000 Retained Earnings Total Liabilities & Stockholders' $324,000 $252,000 Equity Total Liabilities & Stockholders' Equity 90,000 $324,000 60,000 $252,000 Income Statement & Additional information: 1. Net income for the current year ending December 31, 2020 is $58,000. 2. Sold investments for cash, cost $36,000 and resulting in $6,000 gain. 3. The only changes affecting retained earnings are net income and cash dividends paid 4. All the following transactions are in cash: Purchased new machines; repay bonds payable, and issuance common st Required: Prepare the full statement of cash flows using indirect method for the year ended December 31, 2020. (PLEASE PROVIDE EACH V Arial V 10pt For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph
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