Og han he e Outdoor Adventure Company decides to raise additional capital for a planned business expansion The company will be able to acquire ca ares of common stock issued and outstanding (There was no Paid-In Capital in Excess of ParCommon) Outdoor Adventure Company ha ats. Select the explanation on the last line of the journal entry table.) 300.000 Debit Credit Requirements 1. Journalize the transactions, 2. Calculate the balance in Retained Earnings on December 31, 2021. Assume the balance on January 1, 2021 was $5.250 and net income for the year was $454,000 3. Prepare the stockholders' equity section of the balance sheet as of December 31, 2021 There was no preferred stock issued prior to the 2021 transactions Print Done any decides to raise additional capital for a planned business expansion. The company will be able to acquire cash as well as land adja stock issued and outstanding (There was no Paid-In Capital in Excess of Par-Common) Outdoor Adventure Company had the following transacti planation on the last line of the journal entry table.) ebit Credit i More Info 1 Jan. 1 Jan. 10 Issued 30,000 shares of S1 par value mmon stock for a total of $300,000 Issued 10,000 shares of 6%, $2 par value preferred stock in exchange for land with a market value of $200 000 Declared total cash dividends of $40,000 Declared a 9% common stock dividend when the market value of the stock was $11.00 per share, Paid the cash dividends. Dec. 15 Dec. 20 Dec. 31 Dec. 31 Distributed the stock dividend Print Done Done Akut looking into debitnancing through notes mortgage and bonds payable, Outdoor Adventure Company decides to raise additional capital for a planned business expansion Common Stock on January 1, 2021 was 5150.000 and included 150,000 shares of common stock issued and outstanding. (There was no Pald-in Capital in Excess of Par-Cor Chalcon to view the transactions capital for a planned business expansion The company will be able to acquire cash as well as and adjacent to current business location. Before the following tractions the balance no Paid In Capital in Excess of Par-Common) Outdoor Adventure Company had the following transactions 2021 CP13-54 (similar to) After looking into debt financing through notes, mortgage, and bonds payable, Outdoor Adventure Company decides to raise additional capital Common Stock on January 1, 2021 was $150,000 and included 150,000 shares of common stock issued and outstanding. (There was no Paid (Click the icon to view the transactions.) Read the requirements Requirement 1. Journalize the transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jan 1: Issued 30,000 shares of $1 par value common stock for a total of $300,000 Date Accounts and Explanation Debit Credit Jan 1 Cash Common Stock-$1 Par Value Pald-In Capital in Excess of Par-Common Issued common stock at par mation on the last line of the journal entry table) Credit More Info Jan. 1 Jan. 10 Issued 30,000 shares of $1 par value common stock for a total of $300.000 Issued 10,000 shares of 6% $2 par value preferred stock in exchange for land with a market value of $200,000 Declared total cash dividends of $40,000 Declared a 9% common stock dividend when the market value of the stock was $11.00 per share Paid the cash dividends. Dec. 15 Dec. 20 Dec. 31 Dec, 31 Distributed the stock dividend Print Done