Moving to another question will save this responia Question 12 (7.5 Grades) Hamad Town Company had the following balances in the stockholders' equity accounts at Dec. 31, 2020: - Common stock, $10 par, 50,000 shares authorized, 30,000 shares issued and outstanding...$300,000 -Paid in Capital in Excess of Par Value, Common Stock. -Retained Earnings. The following transactions occurred during 2021: 1. Feb. 20: Purchased 2,000 of its own shares for $ 18 per share. 3. April 07: Paid the cash dividends declared early in March 10.1 2. March 10: Declared a $2 per share cash dividend on the outstanding common stock. 4. May 20: Sold all treasury shares for $19 each. 200,000 500,000 5. Oct. 1: Declared 10% stock dividends on the outstanding common stock for the record of Nov. 1 and to be distributed on Dec. 10, The market v 6. Dec. 10: Distributed the shares which declared on Oct. 1. 7. Dec. 25: Implemented a 2-for-1 stock split, when the market value of stock was $26 per share. NOTE: If there is no entry, please write: "NO ENTRY" Required: Prepare Journal entries to record transactions that occurred during 2021. CLEARLY INDICATE THE DEBITS & CREDITS Example: on 1 January 2020, XYZ Company pays $10,000 cash to purchase land Answer: 1/1/2020 Dr. Land 10,000 10.000 U0,000 200,000 500,000 hare. utstanding common stock. 0. ommon stock for the record of Nov. 1 and to be distributed on Dec. 10, The market value of stock on Oct. 1 was $14 per shar t value of stock was $26 per share. occurred during 2021. CLEARLY INDICATE THE DEBITS & CREDITS ash to purchase land