omework Saved Required information Problem 10-2A Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 10-3, 10-4, 10-5) The following information applies to the questions displayed below. Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2018, 360 shares of preferred stock and 4.600 shares of common stock have been Issued. The following transactions affect stockholders' equity during 2018 March 1 Issues 1,700 shares of common stock for $48 per share. May 15 Purchase 460 shares of treasury stock for $41 per share. July 10 Relssues 260 shares of treasury stock purchased on May 15 for $46 per share. October 15 Issues 260 shares of preferred stock for $51 per share. a cash dividend on both common and preferred stock of $110 per share to all stockholders of record on December 15. (Hint Dividends are not paid on treasury stock.) December 31 Pay the cash dividends declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1. 2018: Preferred Stock. $360: Common Stock. $46: Additional Paid-In Capital, $79.000, and Retained Earnings, $31,700. Net income for the year ended December 31, 2018. is $12.000 Problem 10-2A Part1 Required: 1. Record each of these transactions. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 0 Required information 1. Kecord each ot these transactions. (It no entry is required tor a tronsaction/event, select "No journal entry re account field.) View transaction list Journal entry worksheet ped ook Record the issue of common stock. int ences Note: Enter debits before credits. Date General Journal Credit Debit March 01, 2018 Record entry Clear entry View general journal Required information 1. Record each ot these transactions. (It no entry is required tor a transaction/event, select account field.) "No journal entry required" in View transaction list Journal entry worksheet 3 5 Record the purchase of treasury stock. Note: Enter debits before credits. Debit Credit Date General Journal May 15, 2018 View general journal Clear entry Record entry 0 Required information t ect "No journal entry required" . kecord each of these transactions. (It no entry is required tor a transaction/event, se account field.) View transaction list Journal entry worksheet Record reissue of treasury stock purchased. Note: Enter debits before credits. Credit Date General Journal Debit July 10, 2018 View general journal Clear entry Record entry Recora each ot these transactions. (it no entry is required tor a transaction/event, select "No journal entry require account field.) 1. View transaction list Journal entry worksheet 2 Record the issue of preferred stock. Note: Enter debits before credits. Date General Journal Debit Credit October 15, 2018 Record entry Clear entry View general journal 1. Record each ot these transactions. (Ith no entry is required tor a transaction/event, select "No journal entry requir account field.) View transaction list Journal entry worksheet Record the declaration of cash dividend. Note: Enter debits before credits. Credit Debit General Journal Date December 01, 2018 View general journal Clear entry Record entry Required information 1. Record each ot these transactions. (It no entry is required tor a transaction/e account field.) vent, select "No journal entry requi View transaction list Journal entry worksheet 2 Record the entry on the date of record. es Note: Enter debits before credits. Date General Journal Debit c Credit December 15, 2018 Record entry Clear entry View general journal elciror ese ransacuions. (it no entry is required tor a transaction/event, select "No journal entry requir account field.) View transaction list Journal entry worksheet Record the payment of cash dividends declared. Note: Enter debits before credits. Debit Credit General Journal Date December 31, 2018 View general journal Clear entry Record entry
