please help, these are in order
Morrow Enterprises Inc. manufactures bathroom fotures. Morrow Enterprises' stockholders equity accounts, with balances on January 1, 20Y6, are as follows Common stock, $20 stated value (500,000 shares authorized, 399,000 shares issued) $7,980,000 Paid-In Capital in Excess of Stated Value-Common Stock 877,800 Retained Earnings 34,554,000 Treasury Stock (22,500 shares, at cost) 382,500 The following selected transactions occurred during the year The dividend had been properly Paid cash dividends of $0.07 per share on the common stock Jan 22 recorded when declared on December 1 of the preceding fiscal year for $26,355 Issued 73,000 shares of common stock for $23 per share. p 10 Sold all of the treasury stock for $26 per share. Jun 6 Declared a 2% Stock dividend on common stock, to be capitalized at the market price of the stock Jul which is $24 per share. Issued the certificates for the dividend declared on July 5. 15 Aug Purchased 30,000 shares of treasury stock for $20 per share. 23 Nov Declared a $0.09-per-share dividend on common stock 28 Dec Closed the two dividends accounts to Retained Earnings 31 Required: 1. Enter the January 1 balances in T accounts for the stockholders' equity accounts listed, If required, rOund your answers to the nearest dollar 2. Journalize the entries to record the transactions, and post to the eight selected accounts. Assume that the closing entry for revenues and expenses has been made and post net income of S1, 162,500 to the retained earnings account Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar 3. Prepare a statement of stockholders' equity for the year ended December 31, 20YB Assume that net income was $1,162,500 for the yoar ended December 31, 20Y6. For those boxes in which you must enter subtracted or negative numbers use a minus sign If there is an amount is zero, enter 0 4. Prepare the "Stockholders' Equity" section of the December 31, 20Y6, balance sheet For those boxes in which you must enter subtracted or negative numbers use a minus sign. Refer to the list of Amount Descriptions provided for the exact wording of the answer choices for text entries 1. Enter the January 1 balances in Taccounts for the stockholders' equity accounts listed. Post the TOund your answers to the nearest dollar Common Stock Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock Paid-In Capital from Sale of Treasury Stock Stock dividends Distributable Stock dividends Cash Dividends PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF DEBIT LUNIILITIES CREDET ASSETS EQUNEY 1. 2 3 4 6 7 10 11 12 13 14 15 16 Next Previous Morrow Enterprises Inc. Statement of Stockholders' Equity - For the Year Ended December 31, 20Y6 Pald-in Capital Paid-In Capital in Retained Treasury Excess of Stated Common Stock from Sale of Earnings Treasury Stock Value e
