Looking for help with the attached problem 1 and problem 2

There are two problems this week covering the equity section of the balance sheet. Click the tab at the bottom of the screen when you are ready for problem 2. The stockholders equity section of the balance sheet of Frederick Mining Company is as follows: Frederick Mining Company Equity Section of Balance Sheet as of January 1, 2016 Common stock, $10 par value, 200,000 shares authorized 120,000 shares issued Paid-in capital in excess of par value Retained earnings Total equity 1,200,000 3,711,250 4,651,255 9,562,505 Create a journal entry (if needed) for each of the following items. Prepare an updated equity section of the balance sheet as of December 31, 2016. Scroll down past the journal entry section to see the heading for this. 1/28/2016 Frederick Mining enters into a loan-modification agreement with the bank, agreeing to appropriate $500,000 of retained earnings to loan repayment. 2/15/2016 Frederick Mining board of directors declares a $1.50-per-share dividend payable on 3/31/2016 to shareholders of record as of 3/15/2016. Frederick uses a dividends 3/31/2016 Cash dividend declared on 2/15/2016 is paid. 7/22/2016 Frederick Mining board of directors declares a 10% stock dividend to be paid 8/15/2016 to shareholders of record as of 8/1/2016. The market value of the stock is $4 8/15/2016 Stock dividend declared on 7/22/16 is paid. 9/18/2016 Frederick Mining buys back 5,000 shares of company stock on the open market for $52 per share. The purchased shares are not retired but are held in treasury. 12/31/2016 Frederick Mining had the following income and expense account balance as of 12/31/2016. Close out income. Debit Sales revenue Cost of goods sold Administrative salary expense Office expense Depreciation expense Transportation expense Interest expense Credit 6,890,000 4,752,600 436,500 118,560 12,000 18,400 82,800 12/31/2016 Close out dividends. Journal Entries Frederick Mining Company Equity Section of Balance Sheet as of December 31, 2016 Debit Credit dividends account to record dividends declared. tock is $49 immediately prior to the declaration. ury. Prepare journal entries for the following treasury stock transactions. Assume that all three happen in order when preparing each entry. 2/15/2015 6/6/2015 8/30/2015 Purchased 48,000 shares for cash at $13.50 per share. Sold 12,500 treasury shares for cash at $16.00 per share. Sold 9,500 treasury shares for cash at $12.00 per share. Instructions: Prepare journal entries for the above transactions. Date Account Debit Credit There are two problems this week covering the equity section of the balance sheet. Click the tab at the bottom of the screen when you are ready for problem 2. The stockholders equity section of the balance sheet of ABC Company is as follows: ABC Company Equity Section of Balance Sheet as of January 1, 2016 Common stock, $5 par value, 400,000 shares authorized 175,000 shares issued Paid-in capital in excess of par value Retained earnings Total equity 875,000 4,298,193 5,781,030 10,954,223 Create a journal entry (if needed) for each of the following items. Prepare an updated equity section of the balance sheet as of December 31, 2016. Scroll down past the journal entry section to see the heading for this. 1/28/2016 ABC enters into a loan-modification agreement with the bank, agreeing to appropriate $400,000 of retained earnings to loan repayment. 2/15/2016 ABC board of directors declares a $1.75 per share dividend payable on 3/31/2016 to shareholders of record as of 3/15/2016. Frederick uses a dividends account to re 3/31/2016 Cash dividend declared on 2/15/2016 is paid. 7/22/2016 ABC board of directors declares a 15% stock dividend to be paid 8/15/2016 to shareholders of record as of 8/1/2016. The market value of the stock is $53 immediate 8/15/2016 Stock dividend declared on 7/22/16 is paid. 9/18/2016 ABC buys back 10,000 shares of company stock on the open market for $60 per share. The purchased shares are not retired but are held in treasury. 12/31/2016 ABC had the following income and expense account balance as of 12/31/2016. Close out income. Debit Sales revenue Cost of goods sold Administrative salary expense Selling expense Depreciation expense Delivery expense Interest expense Credit 5,928,000 4,149,600 395,200 105,820 10,000 16,400 75,200 12/31/2016 Close out dividends. Journal Entries 1/28/2016 Retained earnings - unappropriated Retained earnings - appropriated Debit 400,000 Credit 400,000 2/15/2016 Dividends Dividends payable 306,250 3/31/2016 Dividends payable Cash 306,250 7/22/2016 Retained Earnings Stock dividends distributable Paid in capital in excess of par value 306,250 306,250 1,391,250 131,250 1,260,000 8/15/2016 Stock dividends distributable Common stock, $5 par value 131,250 9/18/2016 Treasury stock - common Cash 600,000 131,250 600,000 12/31/2016 Sales revenue Income summary 5,928,000 12/31/2016 Income summary Cost of goods sold Administrative salary expense Selling expense Depreciation expense Delivery expense Interest expense 4,752,220 12/31/2016 Income summary Retained earnings 1,175,780 12/31/2016 Retained earnings Dividends ABC Company Equity Section of Balance Sheet as of December 31, 2016 Common stock, $5 par value, 400,000 shares authorized 201,250 shares issued, 191,250 shares outstanding Paid in capital in excess of par value 5,928,000 4,149,600 395,200 105,820 10,000 16,400 75,200 1,175,780 306,250 306,250 1,006,250 5,558,193 Retained earnings - appropriated Retained earnings - unappropriated Treasury stock - common Total equity 400,000 4,859,310 (600,000) 11,223,753 unt to record dividends declared. mediately prior to the declaration. Prepare journal entries for the following treasury stock transactions. Assume that all three happen in order when preparing each entry. 2/15/2015 6/6/2015 8/30/2015 Purchased 36,000 shares for cash at $17 per share. Sold 16,000 treasury shares for cash at $19.00 per share. Sold 8,000 treasury shares for cash at $14.00 per share. Instructions: Prepare journal entries for the above transactions. Date 2/15/2015 6/6/2015 Account Treasury Stock Cash Cash Debit 612,000 612,000 304,000 Treasury Stock Additional Paid-in Capital - Treasury Stock 8/30/2015 Credit Cash Additional Paid-in Capital - Treasury Stock Treasury Stock 272,000 32,000 112,000 24,000 136,000 There are two problems this week covering the equity section of the balance sheet. Click the tab at the bottom of the screen when you are ready for problem 2. The stockholders equity section of the balance sheet of ABC Company is as follows: ABC Company Equity Section of Balance Sheet as of January 1, 2016 Common stock, $5 par value, 400,000 shares authorized 175,000 shares issued Paid-in capital in excess of par value Retained earnings Total equity 875,000 4,298,193 5,781,030 10,954,223 Create a journal entry (if needed) for each of the following items. Prepare an updated equity section of the balance sheet as of December 31, 2016. Scroll down past the journal entry section to see the heading for this. 1/28/2016 ABC enters into a loan-modification agreement with the bank, agreeing to appropriate $400,000 of retained earnings to loan repayment. 2/15/2016 ABC board of directors declares a $1.75 per share dividend payable on 3/31/2016 to shareholders of record as of 3/15/2016. Frederick uses a dividends account to re 3/31/2016 Cash dividend declared on 2/15/2016 is paid. 7/22/2016 ABC board of directors declares a 15% stock dividend to be paid 8/15/2016 to shareholders of record as of 8/1/2016. The market value of the stock is $53 immediate 8/15/2016 Stock dividend declared on 7/22/16 is paid. 9/18/2016 ABC buys back 10,000 shares of company stock on the open market for $60 per share. The purchased shares are not retired but are held in treasury. 12/31/2016 ABC had the following income and expense account balance as of 12/31/2016. Close out income. Debit Sales revenue Cost of goods sold Administrative salary expense Selling expense Depreciation expense Delivery expense Interest expense Credit 5,928,000 4,149,600 395,200 105,820 10,000 16,400 75,200 12/31/2016 Close out dividends. Journal Entries 1/28/2016 Retained earnings - unappropriated Retained earnings - appropriated Debit 400,000 Credit 400,000 2/15/2016 Dividends Dividends payable 306,250 3/31/2016 Dividends payable Cash 306,250 7/22/2016 Retained Earnings Stock dividends distributable Paid in capital in excess of par value 306,250 306,250 1,391,250 131,250 1,260,000 8/15/2016 Stock dividends distributable Common stock, $5 par value 131,250 9/18/2016 Treasury stock - common Cash 600,000 131,250 600,000 12/31/2016 Sales revenue Income summary 5,928,000 12/31/2016 Income summary Cost of goods sold Administrative salary expense Selling expense Depreciation expense Delivery expense Interest expense 4,752,220 12/31/2016 Income summary Retained earnings 1,175,780 12/31/2016 Retained earnings Dividends ABC Company Equity Section of Balance Sheet as of December 31, 2016 Common stock, $5 par value, 400,000 shares authorized 201,250 shares issued, 191,250 shares outstanding Paid in capital in excess of par value 5,928,000 4,149,600 395,200 105,820 10,000 16,400 75,200 1,175,780 306,250 306,250 1,006,250 5,558,193 Retained earnings - appropriated Retained earnings - unappropriated Treasury stock - common Total equity 400,000 4,859,310 (600,000) 11,223,753 unt to record dividends declared. mediately prior to the declaration. Prepare journal entries for the following treasury stock transactions. Assume that all three happen in order when preparing each entry. 2/15/2015 6/6/2015 8/30/2015 Purchased 36,000 shares for cash at $17 per share. Sold 16,000 treasury shares for cash at $19.00 per share. Sold 8,000 treasury shares for cash at $14.00 per share. Instructions: Prepare journal entries for the above transactions. Date 2/15/2015 6/6/2015 Account Treasury Stock Cash Cash Debit 612,000 612,000 304,000 Treasury Stock Additional Paid-in Capital - Treasury Stock 8/30/2015 Credit Cash Additional Paid-in Capital - Treasury Stock Treasury Stock 272,000 32,000 112,000 24,000 136,000