More info Requirements 1. Record the transactions in Deerborn's general journal. 2. Prepare the Deerborn's stockholders' equity section of the balance sheet as of December 31,2024 . Assume that Deerborn was authorized to issue 2,600 shares of preferred stock and 400,000 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 $2,060,000. DocioorniMantiticturing Co. compleled the folowing transactions during 2024 (i) (Click the loon to view the transactions) Fead the Requirement 1. Record the transactions in Deerborn's general journal. (Record debits firt, then credits. Select the oxplanation on the last line of the joutnal entry table. If no entry is tequired, select "No entry reguired" on the frest line of the Accounts and Explanation column and leave the temaining cells blarik.) Jan. 16: Declared a cash dividend on the 6%,$103 par noncumulative preferred stock (1,050 shares outstanding) Declared a $0.20 per ahare dividend on the 100,000 shares of 52 par value common stock cutstanding. The date of record is January 31, and the payment dale is Februacy 15 Feb. 15. Paid the cath dividends Jun. 10: Split common stock 2-for-1. Jul. 30: Declared a 30\% stock dividend Aug. 15: Distributed the stock dividend. Aug. 15: Distributed the stock dividend. Oct. 26: Purchased 1,000 shares of treasury stock at $8 per share. Nov. 8: Sold 500 shares of treasury stock for $10 per share. Nov. 30: Sold 300 shares of treasury stock for $4 per share. Reauirement 2. Prebare the Deerborn's stockholders' eauitv section of the balance sheet as of December 31. 2024. Requirement 2. Prepare the Deerborn's stockholders' equity section of the balance sheet as of December 31, 2024. Assume that Deerborn was authorized to issue 2,600 shares of preferred and 400,000 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 $2,060,000, (Use parentheses or a minus sign for amounts to be subtracted.) Deerbom Manulacturing Co. completed the following transactions during 2024: Click the icon to view the transactions.) Read the feguirements Requirement 1. Record the transactions in Deorboen's generat joumal. (Record debils first, then credits. Select the oxplanation on the last line of the journat entry table. If no entry is requ seloct "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Jan. 16: Declared a cash dividend on the 6\%, $103 par noncumulative preferred stock (1,050 shares cutstanding). Declared a $0.20 per share dividend on the 100,000 shares of $2 par vi common stock outstanding. The date of record is January 31 , and the payment date is February 15. Feb. 15: Paid the cash dividends. More info Requirements 1. Record the transactions in Deerborn's general journal. 2. Prepare the Deerborn's stockholders' equity section of the balance sheet as of December 31,2024 . Assume that Deerborn was authorized to issue 2,600 shares of preferred stock and 400,000 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 $2,060,000. Deerborn Marutacturing Co. completod the following transactons during 2024 (C) (Cick the icon to view the transactions.) Fead the Requirement 1. Record the transactions in Deerbeen's general joumat. (Reoord debts frat, then credits. Select the explanation on the last ine of the joumai entry table. If no entry is requirdd, select "No entry required" on the first lene of the Accounts and Explanabon column and leave the remaining cels blanke). Jsn. 16: Deciared a cash dividend on the 6%,$103 par noncumulatve prefered stock (1.050 shares oustanding) Declared a $0.20 per share didend on the 100 .000 shares of $2 par value common stock outstanding. The date of record is January 31 , and the payment date is February 15 Feb. 15: Paid the cash dvibends Deerborn Manufacturing Co. completed the following transactions during 2024 (Click the icon to view the transactions.) Read the Jun. 10: Split common stock 2-for-1. Jul. 30: Declared a 30% stock dividend on the common stock. The market value of Aug. 15: Distributed the stock dividend. Deerborn Manufacturing Co. completed the following transactions during 2024: i. (Click the icon to view the transactions.) Read the Ruy. 10. Uisuindief uie siunn uiviueitu. Oct. 26: Purchased 1,000 shares of treasury stock at $8 per share. Nov, 8: Sold 500 shares of treasury stock for $10 per share. Nov. 8: Sold 500 shares of treasury stock for $10 per share. Nov. 30: Sold 300 shares of treasury stock for $4 per share. Requirement 2. Prepare the Deerborn's stockholders' equity section of the balance sheet as of December 31, 2024. Assume that Deerborn was authorized and 400,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December parentheses or a minus sign for amounts to be subtracted.) Requirement 2. Pregure the Doerborn's stockholders' equity section of the balance sheet as of Docember 31,2024 . Aswene that Deerbom was a.ehorzed to issue 2,800 shares of prefered stock and 400,000 shases of common thock. Both pretered swock and common stock were issepd at par. The onding balance of retained earnings as of Decermber 31,2024 , is $2,060,000. (Use parentheses or a minus sign for ambunts to bo subtracied)
