please fill out journal entries, taccounts, and the stockholders equity section using the information below. thank you in advance

Business Course Return to course Stockholders' Equity: Transactions and Balance Sheet Presentatio The stockholders' equity of Summit Corporation at January 1 follows: 7 Percent preferred stock, $100 par value, 20,000 shares authorized; 5,000 shares issued and outstanding $500,000 Common stock, $15 par value, 100,000 shares authorized; 40,000 shares issued and outstanding 600,000 Paid-in capital in excess of par value-Preferred stock 24,000 Paid-in capital in excess of par value-Common stock 360,000 Retained earnings 325,000 Total Stockholders' Equity $1,809,000 The following transactions, among others, occurred during the year: Jan. 12 Announced a 3-for-1 common stock split, reducing the par value of the com Mar. 31 Converted $40,000 face value of convertible bonds payable (the book value June 1 Acquired equipment with a fair market value of $80,000 in exchange for 500 Sept. 1 Acquired 10,000 shares of common stock for cash at $14 per share. 12 Sold 1,500 treasury shares at $19 per share. Nov. 21 Issued 5,000 shares of common stock at $14 per share. Dec. 28 Sold 1,200 treasury shares at $9 per share. 31 Closed net income of $95,000 to the Retained Earnings account. Oct. Required Dronarinucnolontine for the divan tanc actions and the Type here to search et e O The stockholders' equity of Summit Corporation at January 1 follows: 7 Percent preferred stock, 5100 par value, 20,000 shares authorized; 5.000 shares issued and outstanding $500,000 Common stock, 515 par value, 100,000 shares authorized 40,000 shares issued and outstanding Paid-in capital in excess of par value-Preferred stock 24,000 Paid-in capital in excess of par value-Common stock 360,000 Retained earnings 325,000 Total Stockholders' Equity $1,809,000 600.000 The following transactions, among others, occurred during the year: Jan 12 Announced a 3-for-1 common stock split, reducing the par value of the common stock to $5 per share. The authorization was increased to 300,000 shares. Mar 31 Converted $40,000 face value of convertible bonds payable (the book value of the bonds was $46,000) to common stock. Each $1,000 bond converted to 125 shares of common June 1 Acquired equipment with a fair market value of $80,000 in exchange for 500 shares of preferred stock Sept. 1 Acquired 10,000 shares of common stock for cash at $14 per share. Oct. 12 Sold 1,500 treasury shares at 519 per share. Nov. 21 Issued 5.000 shares of common stock at $14 per share Dec. 28 Sold 1,200 treasury shares at 59 per share. 31 Closed net income of 595,000 to the Retained Earnings account Required Den siste for the intentione Type here to search Business Course Return to course WIE Jan 12 (Memorandum) Common Stock split 3 for 1. Mar.31 Premium on Bonds Payable Common Stock $ $ $ $ . To record conversions of bonds. Jun.01 Paid-in-Capital in Excess of Par Value Preferred Stock Issued preferred stock in exchange for equipment. Sept.01 . Purchased treasury stock. Oct.12 . Treasury Stock - Common . Sold treasury stock. Nov.21 Common Stock . Issued common stock. Dec.28 . Paid-in-Capital from Treasury Stock e To record sale of treasury stock. Type here to search Cash Bonds Payable Premium on Bonds Payable Mar 31 Mar 31 Sept.01 Oct.12 Nov.21 Dec.28 Equipment Preferred Stock 500,000 Jun 01 Beg, bal Jun 01 Bal Common Stock 600,000 (3 for 1 split) Beg. bal Jan. 12 Mar 31 Nov.21 Bal. Paid-in-Capital in Excess of Par Value - Preferred Stock Beg bal 24,000 Jun.o1 Pald-In-Capital In Excess of Par Value. Common Stock Beg, bal 360,000 Mar 31 Nov.21 Pald-in-Capital from Treasury Stock Oct.12 Dec 28 Bal Bal Treasury Stock . Common Sept.01 Oct.12 Dec Type here to search Jun 01 Jan. 12 (3 for 1 split) Bal Mar 31 Nov.21 Bal. Pald-in-Capital in Excess of Par Value - Preferred Stock 24,000 Jun 01 Ball Beg bal Paid-in-Capital in Excess of Par Value - Common Stock Beg, bal 360,000 Mar 31 Nov 21 Bal Paid-in-Capital from Treasury Stock Oct.12 Dec.28 Bal. Treasury Stock Common Sept.01 Oct. 12 Dec. 28 Bal. Retained Earnings 325.000 Beg bal Dec 31 Type here to search hp Prepare journal entries for the given transactions appropriate amount to the Retained Earnings T-account. Determine the Prepare the stockholders' equity section of the balance sheet at Decemb Journal entries T-Accounts Stockholder's equity section Do not use negative signs with your answers. Stockholders' Equity Paid in Capital $ Additional Paid-in-Capital Paid-in-Capital in Excess of Par value-Preferred Stock Paid-in-Capital in Excess of Par value - Common Stock Total Paid-in-Capital $ Check Type here to search ORE e Business Course Return to course Stockholders' Equity: Transactions and Balance Sheet Presentatio The stockholders' equity of Summit Corporation at January 1 follows: 7 Percent preferred stock, $100 par value, 20,000 shares authorized; 5,000 shares issued and outstanding $500,000 Common stock, $15 par value, 100,000 shares authorized; 40,000 shares issued and outstanding 600,000 Paid-in capital in excess of par value-Preferred stock 24,000 Paid-in capital in excess of par value-Common stock 360,000 Retained earnings 325,000 Total Stockholders' Equity $1,809,000 The following transactions, among others, occurred during the year: Jan. 12 Announced a 3-for-1 common stock split, reducing the par value of the com Mar. 31 Converted $40,000 face value of convertible bonds payable (the book value June 1 Acquired equipment with a fair market value of $80,000 in exchange for 500 Sept. 1 Acquired 10,000 shares of common stock for cash at $14 per share. 12 Sold 1,500 treasury shares at $19 per share. Nov. 21 Issued 5,000 shares of common stock at $14 per share. Dec. 28 Sold 1,200 treasury shares at $9 per share. 31 Closed net income of $95,000 to the Retained Earnings account. Oct. Required Dronarinucnolontine for the divan tanc actions and the Type here to search et e O The stockholders' equity of Summit Corporation at January 1 follows: 7 Percent preferred stock, 5100 par value, 20,000 shares authorized; 5.000 shares issued and outstanding $500,000 Common stock, 515 par value, 100,000 shares authorized 40,000 shares issued and outstanding Paid-in capital in excess of par value-Preferred stock 24,000 Paid-in capital in excess of par value-Common stock 360,000 Retained earnings 325,000 Total Stockholders' Equity $1,809,000 600.000 The following transactions, among others, occurred during the year: Jan 12 Announced a 3-for-1 common stock split, reducing the par value of the common stock to $5 per share. The authorization was increased to 300,000 shares. Mar 31 Converted $40,000 face value of convertible bonds payable (the book value of the bonds was $46,000) to common stock. Each $1,000 bond converted to 125 shares of common June 1 Acquired equipment with a fair market value of $80,000 in exchange for 500 shares of preferred stock Sept. 1 Acquired 10,000 shares of common stock for cash at $14 per share. Oct. 12 Sold 1,500 treasury shares at 519 per share. Nov. 21 Issued 5.000 shares of common stock at $14 per share Dec. 28 Sold 1,200 treasury shares at 59 per share. 31 Closed net income of 595,000 to the Retained Earnings account Required Den siste for the intentione Type here to search Business Course Return to course WIE Jan 12 (Memorandum) Common Stock split 3 for 1. Mar.31 Premium on Bonds Payable Common Stock $ $ $ $ . To record conversions of bonds. Jun.01 Paid-in-Capital in Excess of Par Value Preferred Stock Issued preferred stock in exchange for equipment. Sept.01 . Purchased treasury stock. Oct.12 . Treasury Stock - Common . Sold treasury stock. Nov.21 Common Stock . Issued common stock. Dec.28 . Paid-in-Capital from Treasury Stock e To record sale of treasury stock. Type here to search Cash Bonds Payable Premium on Bonds Payable Mar 31 Mar 31 Sept.01 Oct.12 Nov.21 Dec.28 Equipment Preferred Stock 500,000 Jun 01 Beg, bal Jun 01 Bal Common Stock 600,000 (3 for 1 split) Beg. bal Jan. 12 Mar 31 Nov.21 Bal. Paid-in-Capital in Excess of Par Value - Preferred Stock Beg bal 24,000 Jun.o1 Pald-In-Capital In Excess of Par Value. Common Stock Beg, bal 360,000 Mar 31 Nov.21 Pald-in-Capital from Treasury Stock Oct.12 Dec 28 Bal Bal Treasury Stock . Common Sept.01 Oct.12 Dec Type here to search Jun 01 Jan. 12 (3 for 1 split) Bal Mar 31 Nov.21 Bal. Pald-in-Capital in Excess of Par Value - Preferred Stock 24,000 Jun 01 Ball Beg bal Paid-in-Capital in Excess of Par Value - Common Stock Beg, bal 360,000 Mar 31 Nov 21 Bal Paid-in-Capital from Treasury Stock Oct.12 Dec.28 Bal. Treasury Stock Common Sept.01 Oct. 12 Dec. 28 Bal. Retained Earnings 325.000 Beg bal Dec 31 Type here to search hp Prepare journal entries for the given transactions appropriate amount to the Retained Earnings T-account. Determine the Prepare the stockholders' equity section of the balance sheet at Decemb Journal entries T-Accounts Stockholder's equity section Do not use negative signs with your answers. Stockholders' Equity Paid in Capital $ Additional Paid-in-Capital Paid-in-Capital in Excess of Par value-Preferred Stock Paid-in-Capital in Excess of Par value - Common Stock Total Paid-in-Capital $ Check Type here to search ORE e