Path Remaining Time: 59 minutes, 47 seconds. Question Completion Status: QUESTION 3 Lennox Company has been authorized to issue 50,000 shares of $5.00 par value, 7% preferred stock and 20.000.000 share of S 25 par value common stock December 31, 2020, the following accounts were found on the ledger On Preferred Stock (non-cumulative) Paid-in Capital in Excess of Par-Pref Common Stock Paid-in Capital in Excess of Par-Common Treasury Stock (50.000 shares) Pald-in Capital from Treasury Stock Retained Earnings $120,000 350,000 1,250.000 2.200.000 190,000 39,000 970.000 Journalize the following entries for Lennox (Ignore the first problem.) Journalize the following entries for Lennox (Ignore the first problem.) 1. Declared a $.75 cash dividend per share to common stockholders of record on September 1. payable October 1 3. Declared a dividend on the preferred stock 5. Declared a 10% stock dividend to stockholders of record on December 1, distributable December 31. The market price of the common stock was 511 per share 7. Declared and paid a $1.00 cash dividend on the common shareholder AFTER after the 10% stock dividend had been distributed 8 9. If a 2 for 1 stock split is announced AFTER the 10% stock dividend has been distributed, how many shares will then be outstanding? XCO Cash balance at the end of Remaining Time: 25 minutes, 04 seconds. Pamp Question Completion Status: QUESTION 2 Lennox Company has been authorized to issue 50,000 shares of $5.00 par value, 7% preferred stock and 2,000,000 share of $ 25 par value common stock December 31, 2020, the following accounts were found on the ledger On Preferred Stock (non-cumulative) Paid-in Capital in Excess of Par-Pref Common Stock Paldin Capital in Excess of Par-Common Treasury Stock Pald-in Capital from Treasury Stock Retained Earnings $120.000 35 000 1250,000 2 200,000 19 000 1900 97000 During the year, several transactions involved stock Analyze the transactions below and answer the questions SHOW ALL COMPLATIONS During the year, several transactions involved stock. Analyze the transactions below and answer the questions SHOW ALL COMPUATIONS a Preferred stock was issued for land having a fair value of $940,000 and a market value of $980,000 If 40,000 preferred shares were issued for the land what was the market value of each share at that time? b. 19.500 shares of common stock are in the treasury on December 31, how much was paid per share to buy bark those shares that were bought back in November (the only treasury stock purchase that has ever taken place). c What transaction(s) brought about the account Paid-in Capital from Treasury Stock? Be Specific d. How many shares of Common stock are issued and outstanding? e How many shares of Preferred stock are issued? What is the stated dividend per preferred share outstanding? 9 Prepare in GOOD FORM the stockholders' equity section of Lennox's 2020 balance sheet Path Remaining Time: 59 minutes, 47 seconds. Question Completion Status: QUESTION 3 Lennox Company has been authorized to issue 50,000 shares of $5.00 par value, 7% preferred stock and 20.000.000 share of S 25 par value common stock December 31, 2020, the following accounts were found on the ledger On Preferred Stock (non-cumulative) Paid-in Capital in Excess of Par-Pref Common Stock Paid-in Capital in Excess of Par-Common Treasury Stock (50.000 shares) Pald-in Capital from Treasury Stock Retained Earnings $120,000 350,000 1,250.000 2.200.000 190,000 39,000 970.000 Journalize the following entries for Lennox (Ignore the first problem.) Journalize the following entries for Lennox (Ignore the first problem.) 1. Declared a $.75 cash dividend per share to common stockholders of record on September 1. payable October 1 3. Declared a dividend on the preferred stock 5. Declared a 10% stock dividend to stockholders of record on December 1, distributable December 31. The market price of the common stock was 511 per share 7. Declared and paid a $1.00 cash dividend on the common shareholder AFTER after the 10% stock dividend had been distributed 8 9. If a 2 for 1 stock split is announced AFTER the 10% stock dividend has been distributed, how many shares will then be outstanding? XCO Cash balance at the end of Remaining Time: 25 minutes, 04 seconds. Pamp Question Completion Status: QUESTION 2 Lennox Company has been authorized to issue 50,000 shares of $5.00 par value, 7% preferred stock and 2,000,000 share of $ 25 par value common stock December 31, 2020, the following accounts were found on the ledger On Preferred Stock (non-cumulative) Paid-in Capital in Excess of Par-Pref Common Stock Paldin Capital in Excess of Par-Common Treasury Stock Pald-in Capital from Treasury Stock Retained Earnings $120.000 35 000 1250,000 2 200,000 19 000 1900 97000 During the year, several transactions involved stock Analyze the transactions below and answer the questions SHOW ALL COMPLATIONS During the year, several transactions involved stock. Analyze the transactions below and answer the questions SHOW ALL COMPUATIONS a Preferred stock was issued for land having a fair value of $940,000 and a market value of $980,000 If 40,000 preferred shares were issued for the land what was the market value of each share at that time? b. 19.500 shares of common stock are in the treasury on December 31, how much was paid per share to buy bark those shares that were bought back in November (the only treasury stock purchase that has ever taken place). c What transaction(s) brought about the account Paid-in Capital from Treasury Stock? Be Specific d. How many shares of Common stock are issued and outstanding? e How many shares of Preferred stock are issued? What is the stated dividend per preferred share outstanding? 9 Prepare in GOOD FORM the stockholders' equity section of Lennox's 2020 balance sheet