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The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 20% stock dividend. The stock's per share market value on April 2 is $10 (prior to the dividend). Common stock-$5 par value, 555,000 shares authorized, 290,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 1,450,000 670,000 923,000 $ 3,043,000 Prepare the stockholders' equity section immediately after the stock dividend. JUN COMPANY Stockholders' Equity April 2 (after stock dividend) Total paid-in capital Total stockholders' equity 1. Prepare the journal entry to record Tamas Company's issuance of 6,600 shares of $100 par value, 6% cumulative preferred stock for $106 cash per share. View transaction list Journal entry worksheet Record the issue of $100 par value preferred stock for $106 cash per share. Note: Enter debits before credits Transaction General Journal Credit Debit 6,990.000 Preferred stock, $100 par value 600.000 Paid.in capital in excess of par value, preferred stock 39.600 Record entry Clear entry View general Journal Stockholders' equity of Ernst Company consists of 75,000 shares of $5 par value, 7% cumulative preferred stock and 255,000 shares of $1 par value common stock. Both classes of stock have been outstanding since the company's inception. Ernst did not declare any dividends in the prior year, but it now declares and pays a $100,000 cash dividend at the current year-end. Determine the amount distributed to each class of stockholders for this two-year-old company. Par Value perDividend Preferred Rate Share Dividend per Preferred Share Number of Preferred Shares Preferred Dividend for two years Calculation of Preferred Dividend Total cash dividend To preferred shareholders To common shareholders