Jartz, Inc., at December 31, 2017, reported 900,000 shares of $1 par common stock authorized with 98,000 shares is s of par-common had a balance of $330,000. Retained earnings had a balance of $104,000. During 2018, the comp ew the transactions.) More Info d the X s fr D00 sh 15 Purchased 2,000 shares of treasury stock at $6 per share. 8 Sold 1,000 shares of treasury stock for $10 per share. 28 Feb Mar Sep Declared and distributed a 5 % stock dividend on the 97,000 shares of outstanding common stock. The market value of Quartz's common stock was $7 per share. ury stoc Print Done st or enter any number in the input fields and then continue to the next question. Fon The balance sheet of Quartz, Inc., at December 31, 2017, reported 900,000 shares of $1 par common stock authorized with 98,000 shares issued and outstanding. Paid-in capital in excess of par-common had a balance of $330,000. Retained earnings had a balance of $104,000. During 2018, the company completed the followi selected transactions: Click the icon to view the transactions.) Read the requirements Requirement 1. Record the transactions in the journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Feb 15: Purchased 2,000 shares of treasury stock at $6 per share. Journal Entry Debit Credit Accounts Date 12000 15 Treasury stock Feb 12000 Cash Click the icon to view the transactions.) Read the requirements. Mar 8: Sold 1,000 shares of treasury stock for $10 per share. Journal Entry Date Accounts Debit Credit 8 Cash Mar 10000 Paid-in capital, treasury stock Treasury stock 4,000 6000 The balance sheet of Quartz, Inc., at December 31, 2017, reported 900,000 shares of $1 par common stock authorized with 98,000 shares issued and outstanding. Paid-in capital in excess of par-common had a balance of $330,000. Retained eanings had a balance of $104,000. During 2018, the company completed the followin solected transactions IClick the icon to view the transactions.) Read the requirements Sep 28. Declared and distributed a 5 % stock dividend on the 97,000 shares of outstanding common stock. The market value of Quartz's common stock was $7 per share. Journal Entry Credit Debit Accounts Date 28 Retained eamings Sep Common stock Paid-in capital in excess of par-common -- 4 nti the nevt auestion The balance sheet of Quartz, Inc., at December 31, 2017, reported 900,000 shares of $1 par common stock authorized with 98,000 shares issued and outstanding. Paid-in capital in excess of par-common had a balance of $330,000. Retained earnings hada balance of $104,000. During 2018, the company completed the following selected transactions IClick the icon to view the transactions.) Read the requirements Requirement 2. Prepare the stockholders' equity soction of the balance sheet at December 31, 2018, assuming the company earmed $00,000 of net income during the year. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet) Stockholders' Equity Paid-in capital 1shares authorized shares issued, Common stock, $1 par shares authorized Common stock, $1 par Paid-in capital-treasury stock The balance sheet of Quartz, Inc., at December 31, 2017, reported 900,000 shares of $1 par common stock authorized with 98,000 shares issue Paid-in capital in excess of par-common had a balance of $330,000. Retained earnings had a balance of $104,000. During 2018, the company selected transactions: Click the icon to view the transactions.) Read the requirements. Paid-in capital: Common stock, $1 par 1 shares authorized, shares authorized, shares issued Common stock, $1 par Paid-in capital - treasury stook Total paid-in capital Retained earnings Paid-in capital - treasury stock
