Part 1:

Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows:

1. Journalize the selected transactions.

If no entry is required, select "No entry required" from the dropdown and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.

d. Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. Journalize the common stock and the preferred stock entries separately.

j. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method.

Part 2:

Note: You must complete part 1 before part 2.

After all of the transactions for the year ended December 31, 20Y8, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data below were taken from the records of Equinox Products Inc. Unless otherwise stated, assume a December 31 balance after adjusting entries.

HIR. Il an amount box de a. Issued 15,000 shares of $20 par common stock at $30, receiving cash. Description Debit Cash 450,000 Credit Common Stock 300,000 Paid-In Capital in Excess of Par-Common Stock 150,000 b. Issued 4,000 shares of $80 par preferred 5% stock at $100, receiving cash. Description Debit Credit Cash 400,000 Preferred Stock 320,000 Paid-In Capital in Excess of Par-Preferred Stock 80,000 c. Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually, Description Debit Credit Cash 520,000 Bonds Payable 500,000 Premium on Bonds Payable 20,000 MVUA a anu une preferred stock entries separately, Debit Credit Description ook een Cash Dividends 50,000 Cash Dividends Payable Common stock 50,000 Cash Dividends 20,000