Journal entry worksheet 2 3 4 5 6 7 Record the payment of cash dividends declared Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2018 Required information Problem 10-2A Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 10-3, 10-4,10-5) The following information applies to the questions displayed below. Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2018, 400 shares of preferred stock and 5,000 shares of common stock have been issued. The following transactions affect stockholders' equity during 2018 March 1 lssues 2,100 shares of common stock for $52 per share. May 15 Purchase 500 shares of treasury stock for $45 per share July 10 Reissues 300 shares of treasury stock purchased on May 15 for $50 per share. October 15 Issues 300 shares of preferred stock for $55 per share. December 1 Declare a cash dividend on both common and preferred stock of $1.50 per share to all stockholders of record on December 15. (Hint Dividends are not paid on treasury stock.) December 31 Pay the cash dividends declared on December1 Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2018: Preferred Stock, $400; Common Stock, $50; Additional Paid-in Capital, $81,000; and Retained Earnings, $32,500. Net income for the year ended December 31, 2018, is $12,800 Journal entry worksheet 2 3 4 6 7 Record the issue of common stock. Note: Enter debits before credits. Date General Journal Debit Credit March 01, 2018 Journal entry worksheet 1 2 3 4 5 6 Record the purchase of treasury stock. Note: Enter debits before credits. Date General Journal Debit Credit May 15, 2018 Journal entry worksheet 2 3 4 6 7 Record reissue of treasury stock purchased. Note: Enter debits before credits. Date General Journal Debit Credit July 10, 2018 Journal entry worksheet 2 4 5 6 7 Record the issue of preferred stock. Note: Enter debits before credits. Date General Journal Debit Credit October 15, 2018 Journal entry worksheet 1 2 3 4 6 7 Record the declaration of cash dividend. Note: Enter debits before credits Date General Journal Debit Credit December 01, 2018 Journal entry worksheet 2 3 4 5 6 7 Record the entry on the date of record. Note: Enter debits before credits Date General Journal Debit Credit December 15, 2018