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Just the balance sheet Halborn Manufacturing Co. completed the following transactions during 2024: (Click the icon to view the transactions.) Read the requirements Paid-In Capital
Just the balance sheet
Halborn Manufacturing Co. completed the following transactions during 2024: (Click the icon to view the transactions.) Read the requirements Paid-In Capital from Treasury Stock Transactions 4.000 Sold treasury stock above cost. Nov. 30: Sold 1,400 shares of treasury stock for $5 per share Date Accounts and Explanation Debit Credit Nov. 30 Cash 7,000 4.000 1,600 Paid-In Capital from Treasury Stock Transactions Retained Earnings Treasury StockCommon Sold treasury stock below cost. 12,600 Requirement 2. Prepare the Halborn's stockholders' equity section of the balance sheet as of December 31, 2024. Assume that Halborn was authorized to issue 2,200 shares of preferred stock and 300,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2024, is $1,090,000. (Use parentheses or a minus sign for amounts to be subtracted.) Halborn Manufacturing, Co. Balance Sheet (Partial) December 31, 2024 Stockholders' Equity More info Paid-In Capital: Requirements Jan. 16 1. Record the transactions in Halborn's general journal. 2. Prepare the Halborn's stockholders' equity section of the balance sheet as of December 31, 2024. Assume that Halborn was authorized to issue 2,200 shares of preferred stock and 300,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2024, is $1,090,000 Feb. 15 Jun. 10 Total Paid-In Capital Jul. 30 Declared a cash dividend on the 4%, $96 par noncumulative preferred stock (1,200 shares outstanding). Declared a $0.50 per share dividend on the 105,000 shares of $4 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. Paid the cash dividends. Split common stock 2-for-1 Declared a 40% stock dividend on the common stock. The market value of the common stock was $10 per share. Distributed the stock dividend. Purchased 8,000 shares of treasury stock at $9 per share. Sold 4,000 shares of treasury stock for $10 per share. Sold 1,400 shares of treasury stock for $5 per share. Aug. 15 Oct. 26 Total Stockholders' Equity Print Done Nov. 8 Nov. 30 Help me solve this Demodocs example Get more help ( Print DoneStep by Step Solution
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