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Please help me to find common stock Problem 15-6 Nash Company has the following stockholders' equity accounts at December 31, 2017. Common Stock ($100 par
Please help me to find common stock
Problem 15-6 Nash Company has the following stockholders' equity accounts at December 31, 2017. Common Stock ($100 par value, authorized 8,100 shares)$508,300 Retained Earnings 279,200 Prepare entries in journal form to record the following transactions, which took place during 2018. (Credit account titles are aut manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (1) 290 shares of outstanding stock were purchased at $97 per share. (These are to be accounted for using the cost method.) (2) A $19 per share cash dividend was declared (3) The dividend declared in (2) above was paid. (4) The treasury shares purchased in (1) above were resold at $102 per share. (5) 520 shares of outstanding stock were purchased at $104 per share. (6) 340 of the shares purchased in (5) above were resold at $96 per share. Debit Credit No. Account Titles and Explanation 28130 1 Treasury Stock 28130 Cash 91067 2. Retained Earnings 91067 Dividends Payable 91067 3. Dividends Payable 91067 Cash 4. Cash 29580 28130 Treasury Stock 1450 Paid-in Capital from Treasury Stock 54080 5. Treasury Stock 54080 Cash 32640 6. Cash 6. Cash 32640 Paid-in Capital from Treasury Stock 1450 Retained Earnings 1270 Treasury Stock 35360 Your answer is partially correct. Try again. Prepare the stockholders' equity section of Nash Company's balance sheet after giving effect to these transactions, assuming that the net income for 2018 was $100,300. State law requires restriction of retained earnings for the amount of treasury stock. (Enter account name only and do not provide descriptive information.) NASH COMPANY Stockholders' Equity December 31, 2018 ommon Stock 490300 Retained Earnings 287163 Total Paid-in Capital and Retained Earnings 777463 Lessv 18720 sury Stock 758743 Total Stockholders' EquityStep by Step Solution
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