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NEED ASAP DUE TOMORROW PLEASE AND THANK YOU!! Bonita Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance
NEED ASAP DUE TOMORROW PLEASE AND THANK YOU!!
Bonita Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. $200,000 Preferred stock, 10%, $100 par (10,000 shares authorized, 2,000 shares issued) Common stock. $5 par (108,000 shares authorized 21,600 shares issued) Additional paid-in capital 108,000 119,000 Retained earnings 419,000 Total $846,000 During 2020, Bonita took part in the following transactions concerning stockholders' equity. 1. 2. Paid the annual 2019 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. Purchased 1,700 shares of its own outstanding common stock for $41 per share. Bonita uses the cost method. Reissued 600 treasury shares for land valued at $27,800. Issued 480 shares of preferred stock at $104 per share. 3. 4. 4. 5, 6. Issued 480 shares of preferred stock at $104 per share. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $42 per share. Issued the stock dividend. Declared the annual 2020 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021. 7 Step by Step Solution
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