On November 1, 2018, the Nicklaus Corporation declares a $017 per share cash dividend on common stock and a $0.34 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2018, to shareholders of record on November 15, 2018 On December 2, 2018, the Nicklaus Corporation declares a 2% stock dividend payable on December 28, 2018 to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 152.000 (0.02 7600,000) additional shares being issued to shareholders 33 34 points Required: 1. Prepare journal entries to record the declaration and payment of these stock and cash dividends 2. Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation (Assume net income for the fourth quarter was $2.700,000) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 2 Required 1 Part A Required 1 Part B Required 2 Part B Required 1 Part Required 2 Part Required 3 Part Part A Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2018. (Assume net income for the first quarter 2018 was $1,700,000.) NICKLAUS CORPORATION Balance Sheet Shareholders' Equity Section March 31, 2018 Shareholders' equity Connon ock s4000000 Preferred stock 10 000 000 Paid in capital excess of 36.000.000 Retained earnings 50 000 000 Total shareholders' equity 100 000 000 Un November 2018, ne NICKIGUS corporauon cecares a 0.1 per Share Can IVCend on COTION SOCK and d 0.34 per Slidre cash dividend on preferred stock. Payment is scheduled for December 1, 2018, to shareholders of record on November 15, 2018 On December 2, 2018, the Nicklaus Corporation declares a 2% stock dividend payable on December 28, 2018, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 152,000 (0.02 * 7.600,000) additional shares being issued to shareholders. 3.34 Sinds Required: 1. Prepare journal entries to record the declaration and payment of these stock and cash dividends. 2. Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation (Assume net income for the fourth quarter was $2,700,000.) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Part A Required 2 Part A Required 1 Part 3 Required 2 Part B Required 1 Part C Required 2 Part C Required 3 Part C Prepare journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) No Date General Journal Credit Debit 2,880,000 June 30 Treasury stock Cash 2.880,000 July 31 300,000 Cash Treasury stock Paid in capital share repurchase 240,000 60,000 September 30 Cash Pald-in capital-share repurchase Treasury stock 200,000 40,000 240,000 Un November IUI, Idus corporation DeGred / per stare can given on common stock and 0.34 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2018, to shareholders of record on November 15, 2018 On December 2, 2018, the Nicklaus Corporation declares a 2% stock dividend payable on December 28, 2018 to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 152.000 (0.02 7600,000) additional shares being issued to shareholders Required: 1. Prepare journal entries to record the declaration and payment of these stock and cash dividends. 2. Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation (Assume net income for the fourth quarter was $2.700000) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 1 Part A Required 2 Part A Required 2 Part Required 1 part Required 2 Part C Required 3 Part C Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30, 2018. (Assume net income for the second and third quarter was $3,200,000.) NICKLAUS CORPORATION Balance Sheet Shareholders' Equity Section September 30, 2018 Shareholders' equilty Total shareholders' equity Un November 1, UIO, NICIUS Dolcon D resd per Stare Cast Video C on IOCK and a 34 per side cash dividend on preferred stock. Payment is scheduled for December 1, 2018 to shareholders of record on November 15, 2018 On December 2 2018 the Nicklaus Corporation declares a 2 stock dividend payable on December 28, 2018 to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 152000 (0027600,000) additional shares being issued to shareholders Required: 1. Prepare journal entries to record the declaration and payment of these stock and cash dividends 2. Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation (Assume net income for the fourth quarter was $2,700,000) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Part A Required 1 Part 8 Required 2 Part B Required 1 Part Required 2 Required 3 Prepare journal entries to record the declaration and payment of these stock and cash dividends. (If no entry is required for a transaction event, select "No journal entry required in the first account field.) No Date General Journal Debit Credit Required 2 Part 3 Required 2 Part > un November 2018, ne NICKIdus LOW DO on Declares a superare con viuena on common stock and >0.5 per Share cash dividend on preferred stock. Payment is scheduled for December 1, 2018, to shareholders of record on November 15, 2018 On December 2 2018. the Nicklaus Corporation declares a 2% stock dividend payable on December 28, 2018. to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 152000 (0.02 x 7,600,000) additional shares being issued to shareholders Required: 1. Prepare journal entries to record the declaration and payment of these stock and cash dividends 2. Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation (Assume net income for the fourth quarter was $2.700.000) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018 on the renoides Answer is not complete. certom by entering your order to be come Complete this question by entering your answers in the tabs below. Required 1 Part A Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part Required 2 Part Required 3 Part C Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,700,000.) NICKLAUS CORPORATION Balance Sheet Shareholders' Equity Section December 31, 2018 Shareholders' equity Total shareholders' equity Part A In late 2017 the Nicklaus Corporation was formed the corporate charter authorizes the issuance of 6 000 000 shares of common stock carrying a $1 par value, and 2,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2 2018. 4.000.000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2 all 2,000,000 shares of preferred stock are issued at $30 per share. 33 34 Doints Required: 1. Prepare journal entries to record these transactions 2. Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2018. (Assume net income for the first quarter 2018 was $1,700,000) Part B During 2018, the Nicklaus Corporation participated in three treasury stock transactions a. On June 30, 2018, the corporation reacquires 240,000 shares for the treasury at a price of $12 per share. b. On July 31, 2018 20.000 treasury shares are reissued at $15 per share. c. On September 30, 2018, 20,000 treasury shares are reissued at $10 per share. Required: 1. Prepare journal entries to record these transactions 2. Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30, 2018. (Assume net income for the second and third quarter was $3,200,000) Part C On October 1, 2018, Nicklaus Corporation receives permission to replace its $1 par value common stock (6,000,000 shares authorized, 4,000,000 shares issued, and 3.800,000 shares outstanding) with a new common stock issue having a $50 par value. Since the new par value is one-half the amount of the old, this represents a 2-for-1 stock split. That is, the shareholders will receive two shares of the $ 50 par stock in exchange for each share of the $1 par stock they own. The $1 par stock will be collected and destroyed by the issuing corporation On November 1, 2018, the Nicklaus Corporation declares a $0.17 per share cash dividend on common stock and a $0.34 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2018, to shareholders of record on November 15, 2018 On December 2, 2018, the Nicklaus Corporation declares a 2% stock dividend payable on December 28, 2018, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 152.000 (0.02 * 7600,000) additional shares being issued to shareholders David issuing corporation On November 1, 2018, the Nicklaus Corporation declares a $0.17 per share cash dividend on common stock and a $0.34 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2018, to shareholders of record on November 15, 2018 33 34 points On December 2, 2018, the Nicklaus Corporation declares a 2% stock dividend payable on December 28, 2018, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 152.000 (0.02 x 7,600,000) additional shares being issued to shareholders Required: 1. Prepare journal entries to record the declaration and payment of these stock and cash dividends 2. Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation (Assume net income for the fourth quarter was $2,700,000.) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Part A Reguared2 Part A Required 1 Part 8 Required 2 Part B Required 1 Part Required 2 Part C Required 3 Part Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2018. (Assume net income for the first quarter 2018 was $1,700,000.) NICKLAUS CORPORATION Balance Sheet - Shareholders' Equity Section March 31, 2018 Shareholders' equity Common stock $4,000,000 Preferred stock 10 000 000 Padin capital excess of 35 000 000 $ Retained earnings 50,000 000 Total shareholders' equity 100 000 000 On December 2, 2018, the Nicklaus Corporation declares a 2% stock dividend payable on December 28, 2018, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 152.000 (0.02 x 7,600.000) additional shares being issued to shareholders 3.34 Required: 1. Prepare journal entries to record the declaration and payment of these stock and cash dividends 2. Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation (Assume net income for the fourth quarter was $2.700,000) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part Required 2 Part Required 3 Part Prepare journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account feld) NO Date General Journal Debit Credit June 30 2,880,000 Treasury stock Cash 2,380,000 July 31 300,000 Cash Treasury stock 240 000 Paid in capital share repurchase 60.000 September 30 Cash 200 000 40.000 Paid in capital share repurchase Treasury stock 240,000 On December 2, 2018, the Nicklaus Corporation declares a 2% stock dividend payable on December 28, 2018, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 152.000 (0.02 x 7,600.000) additional shares being issued to shareholders 3.34 Required: 1. Prepare journal entries to record the declaration and payment of these stock and cash dividends 2. Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation (Assume net income for the fourth quarter was $2.700,000) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Part A Required 1 Part B Required 2 Part B Required 1 Part Required 2 Part Required 3 Part Prepare journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account feld) NO Date General Journal Debit Credit June 30 2,880,000 Treasury stock Cash 2,380,000 July 31 300,000 Cash Treasury stock 240 000 Paid in capital share repurchase 60.000 September 30 Cash 200 000 40.000 Paid in capital share repurchase Treasury stock 240,000