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journalise the transactions Current Attempt in Progress Sandhill Corp, reported the following amounts in the shareholders' equity section of its December 31, 2023, balance sheet:
journalise the transactions
Current Attempt in Progress Sandhill Corp, reported the following amounts in the shareholders' equity section of its December 31, 2023, balance sheet: Preferred shares, $9 dividend ( 10,500 shares authorized, 2,100 shares issued) Common shares (unlimited authorized, 25,000 issued) Contributed surplus Retained earnings Accumulated other comprehensive income Total $218,400 600,000 55,000 250.000 77,000 $1.200,400 The contributed surplus arose from net excess of average cost per share over reacquisition cost on a previous repurchase and cancellation of common shares. During 2024, the company had the following transactions that affect shareholders' equity. No. Account Titles Debit Credit a. b. c. d. Prepare the journal entries for the following transactions: (Condit account tlifes are automatically indented when the amount is enterd. Do not indent manually if no entry ls required, select "No Enty' for the occount titles and enter 0 for the amounts. List all debit entries before credit entries) a. Paid the annial 202359 per share dividend on preferred shares and a 54 per share dividend on common shares. These dividends had been declared on December 31,2023. b. Purchased 3,500 shares of its own outstanding common shares for $36 per share and cancelled them. c. Issued 1.100 greferred shares at $109 per share (at the beginning of the year). d. Declared a 10\% stock dividend on the outstanding common shares at their fair value when the shares were selling for 544 per share. e. Issued the stock dividend. 1. Declared the annual 2024$9 per share dividend on preferred shares and a $3 per share dividend on common shares. Thise dividends are payable in 2025. No. Account Titles Debit Credit d. e. f Step by Step Solution
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