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Luke Networking Solutions began operations on January 1, 2018, and immediately issued its stock, receiving cash. Luke's balance sheet at December 31, 2018, reported the

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Luke Networking Solutions began operations on January 1, 2018, and immediately issued its stock, receiving cash. Luke's balance sheet at December 31, 2018, reported the following stockholders' equity: (Click the icon to view the stockholders' equity balances.) During 2018, Luke (Click the icon to view the 2018 transactions.) Read the requirement Requirement 1. Journalize all of Luke's stockholders' equity transactions during the year. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Issued stock for $5 per share. Journal Entry Date Accounts Credit Debit b. Purchased 600 shares of treasury stock, paying $7 per share. Journal Entry Accounts Date Debit Credit c. Resold some of the treasury stock. Journal Entry Accounts Date Debit Credit Date Accounts Debit Credit d. Declared and paid cash dividends. Journalize the declaration and payment of the dividends in one entry. (Do not use a liability account for this Journal Entry Accounts Date Debit Credit (Click the icon to view the 2018 transactions.) Read the chancement Data Table More Info X 56,000 a, issued stock for $5 per share. b. purchased 600 shares of treasury stock, paying $7 per share. C. resold some of the treasury stock. d. declared and paid cash dividends. Common stock, $1 par Additional paid-in capital Retained earnings Treasury stock, 500 shares Total stockholders' equity 224,200 39,000 (3,500) $ 315,700 Print Done Print Done Luke Networking Solutions began operations on January 1, 2018, and immediately issued its stock, receiving cash. Luke's balance sheet at December 31, 2018, reported the following stockholders' equity: (Click the icon to view the stockholders' equity balances.) During 2018, Luke (Click the icon to view the 2018 transactions.) Read the requirement Requirement 1. Journalize all of Luke's stockholders' equity transactions during the year. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Issued stock for $5 per share. Journal Entry Date Accounts Credit Debit b. Purchased 600 shares of treasury stock, paying $7 per share. Journal Entry Accounts Date Debit Credit c. Resold some of the treasury stock. Journal Entry Accounts Date Debit Credit Date Accounts Debit Credit d. Declared and paid cash dividends. Journalize the declaration and payment of the dividends in one entry. (Do not use a liability account for this Journal Entry Accounts Date Debit Credit (Click the icon to view the 2018 transactions.) Read the chancement Data Table More Info X 56,000 a, issued stock for $5 per share. b. purchased 600 shares of treasury stock, paying $7 per share. C. resold some of the treasury stock. d. declared and paid cash dividends. Common stock, $1 par Additional paid-in capital Retained earnings Treasury stock, 500 shares Total stockholders' equity 224,200 39,000 (3,500) $ 315,700 Print Done Print Done

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