Hamad Town Company had the following balances in the stockholders' quity counts - Common stock, $10 par, 50,000 shares authored, 30,900 shares med and cooling $7000 - Paid in Capital in Excess of Par Value, Common Stock 200 000 - Retained Earnings 560.000 The following transactions occurred during 2021: 1. Feb. 20: Purchased 2,000 of its own shares for $ 18 per shume 2 March 10 Declared a $2 per share cash dividend on the outstanding condok 3. April OZ Paid the cash dividends declared early in March 10 4. May 20. Sold all treasury shares for $19 each 5. Oct 1: Declared 10% stock dividends on the outstanding common stock for the secondo Novobben. De 10. The share 6 Dec 10 Distributed the shares which declared on Oct. 1 7 Dec 25 Implemented a 2-for-1 stock split, 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 purchate and Answer 1/1/2020 Dr. Land 10,000 Cr Cash 10 000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). The following comparative in the 2010 & 2020 Assets D. DO Cash 2020 2012 312.000 152000 Accounts Receivable 104.000 6000 Inventory and suppliers 50 000 110.000 Investments 0 72.000 Machines 228.000 203000 Accumulated depreciation 156.000) (40.000 Machines Total Assets 5648.2009 Liabilities & Stockholders Equity Note payable 148,000 100,000 Bonds payable (long-term) 148.000 TA 000 Common Stock 160,000 30.000 Retained Earnings 192,000 120.000 Total Liabilities & Stockholders 5648.000 5504.000 Equity Income Statement & Additional information: 1. Net income for the current year ending December 31, 2020 is 3116,000 2. Sold investments for cash, cost 572 000 and resulting in 512,000 gan 3. The only changes affecting retained earnings are not income and cash dividend paid 4. All the following transactions are in cash Purchased new machines, repay bonds payable and waste timento da Required: Comparative balance sheets 2019 & 2020 and added Assets Dec. 31. Dec. 2020 Cash 2013 $312,000 $52.000 Accounts Receivable 104,000 96.000 Inventory and supplies 50 000 116,000 Investments 72.000 Machines 228,000 208,000 Accumulated depreciation- (40,000) Machines Total Assets 5648.000 O (56,000) Liabilities & Stockholders Equity $51.900 Note payable 148,000 Bonds payable (long-term) 108,000 148,000 188,000 Common Stock 160,000 88,000 Retained Earnings 192,000 120,000 Total Liabilities & Stockholders' $648,000 $504,000 Equity Income Statement & Additional information: 1. Net income for the current year ending December 31, 2020 is 5116,000 2. Sold investments for cash, cost $72,000 and resulting in $12,000 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 to Required
