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Hamad Town Company had the following balances in the stockholders' equity accounts at Dec 31, 2020 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, 2020 Common stock, $10 par 50,000 shares authorized. 30,000 shares issued and outstanding $300,000 Paid in Capital in Excess of Par Value, Common Stock -Retained Eamings The following transactions occurred during 2021: 1 Feb. 20, Purchased 2.000 of its own shares for $ 18 per share 2. March 10, Declared a $2 per share cash dividend on the outstanding common stock 2.April07 Paid the cash dividends declared early in March 10 4. May 20, Sold at treasury shares for $19 each 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 distributed on Dec 10, The was $14 per share. 6 Dec 10, Distributed the shares which declared on Oct. 1 2.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, CLEARLY INDICATE THE DEBITS & CREDITS Example: on 1 January 2020, XYZ Company pays $10.000 cash to purchase ang Answer 1/1/2020 Dr. Land 10.000 Cr. Cash 10.000 on Oct 1 On January 1, 2018, Manama Company has 8% 80,000 shares of $10 par value. Cumulative preferred stock and 140,000 shares of common stock authorized, issued and outstanding at $5 par value The Company declared and paid cash dividends as follows Year 2018 2019 2020 Dividends $50,000 $110,000 $190,000 Required: In the below table, determine the amount of cash dividends distributed to each class of shares over the three years Please: Present each year in a separate line
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