Question
he stockholders equity section of Hasbro Corp. Contained the following at 1/1/2021 Common Stock (200,000 issued) $1 par value 200,000 Additional Paid in Capital -
he stockholders equity section of Hasbro Corp. Contained the following at 1/1/2021
Common Stock (200,000 issued) $1 par value 200,000
Additional Paid in Capital - Common Stock 700,000
Retained Earnings 900,000 Treasury Stock (2,000 shares) (14,000)
During 2020, Hasbro had the following transactions.
4/1 Purchased 5,000 shares of common stock at $7 per share to be held in treasury
7/1 Declared and distributed a 15% stock dividend when the market was $9 per share
10/1 Issued 7,000 shares of common stock at $8 per share.
11/1 Reissued 2,000 shares of common treasury stock for $16,000
12/1 Declared a cash dividend of $1.00 per share for common stock.
A. Record each of the transactions in a journal entry:
B. Determine the ending balance of Retained Earnings at 12/31/2021 (NOT A SE SECTION, JUST R/E). The Company had $225,000 in Net Income in 2021
Thanks!
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