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Hamad Town Company had the following balances in the stockholders' equity accounts at Dec. 31, 2020: -Common stock, $20 par, 100,000 shares authorized, 30,000 shares
Hamad Town Company had the following balances in the stockholders' equity accounts at Dec. 31, 2020: -Common stock, $20 par, 100,000 shares authorized, 30,000 shares issued and outstanding Paid in Capital in Excess of Par Value, Common Stock 600.000 400,000 1,000,000 Retained Earnings The following transactions occurred during 2021: 1. Feb. 20. Purchased 4,000 of its own shares for S 30 per share. 2. March 10 Declared a $1 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 $32 each 5. Oct. 1: Declared 10% stock dividends on the outstanding common stock for the record of Nov. 1 and to be distributed on Dec. 10, The market value of stock on Oct. 1 was $20 per share 6 Dec. 10, Distributed the shares which declared on Oct. 1. 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 Joumal entries to record transactions that occurred during 2021
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