please fill out the journal entries
Financial Accounting - Project 2 Name 150 points Part Instructions: Record the following joumal entries for ABC Corporabion on the journal in the provided Student inpul Form (Excel Re). Use the letter for each as the date. Requirements and Basic Instructions: 1. Each student should complete the project on an indvidual basis. Tutors and cthers are not allowed to help students on the project. If a project is not completed on an independent, individual basis, the student will receive zero points for the project. 2. Instructors can only answer questions on the project in general. 3. Students should complete the project and tum in in to the dropbox by the due date. The instructor reserves the inght to not accept tate projects or deduct points on projects tumed in past the due date. 4. There are differont versions of the project that will be assigned (course maled) by the instructor. 5. By submitting in the Carvas dropbox you are "signing" that you havo followed the instructions above. Joumai Entries. A. Issued 5500 shares of $10 par common stock at $11, recelving cash. (s points) B. Issued $110000 of 10 year 10% bonds at a market (effective) interest rate of 9%. with interest payable somlannualy. (6 points) Use the Present Value Tables in Appendix A of text book. Round at calculations to the nearest dollar. C. Declared a dividend of $0.25 per share on common stock. On date of declaration, 17600 shares of common stock wore outstanding (3 points) D. Paid cash dividend from (c) above. (2points) E. Purchased 6600 shares of Jones Company for $10 per share, plus $3300 commission. Our company purchased less than 20% of the outstanding stock of Jones Company. (3 points) F. Declared a 5\% stock dividend on the $10 par common stock when the (6 points) market price was $25 per share. There were 17600 Shares outstanding. G. Distributed the stock oividends declared in (F). (2points) H. Purchased $5000 of 5% bonds at par: (3 points) Interest is payable semiannually. 1. Purchased 330 shares of treasury common stock for $12 per stare. B points) J. Rocoived semiannual interest from bonds purchased in (-1). (3 points) K. Recelved a total casti dividend of $660 from Jones Company. (3 peints) L. Rocoivod a $1100 dividend from our investment in Masco Company atock. This investment is accounted for under the equity method. (3 points) per chas. reviding conmision. Wenend aronel is enion in Rusel 16 pones Eactiosimuctions Page 2 Whee in good tom for the vear endes Oece-ber 31, 20x