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Please help with all 7 parts... it's all one problem. Thanks! I give thumbs up for complete answers! Madrid Jewelry Company reported the following summarized
Please help with all 7 parts... it's all one problem. Thanks! I give thumbs up for complete answers!
Madrid Jewelry Company reported the following summarized balance sheet at December 31, 2018: (Click the icon to view the statement.) During 2019, Madrid Jewelry completed these transactions that affected stockholders' equity: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Madrid Jewelry's transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Feb 13: Issued 5,300 shares of common stock for $12 per share. Journal Entry Accounts Date Debit Credit Feb 13 Cash Common Stock Dividends Payable Paid-in Capital from Treasury Stock Transactions Paid-in Capital in Excess of ParCommon Preferred Stock Choose from an Retained Earnings Treasury Stock-Common parts 7 remaining n click Check Answer. Clear All Data Table More Info Assets Feb Amount $ 33,400 106,600 Jun 7 $ 140,000 Aug 13 Issued 5,300 shares of common stock for $12 per share. Declared the regular cash dividend on the preferred stock. 24 Paid the cash dividend. 9 Declared and distributed a 20% stock dividend on the common stock. Market price of the common stock was $17 per share. 26 Reacquired 700 shares of common stock as treasury stock, paying $20 per share. 20 Sold 300 shares of the treasury stock for $24 per share. 31 Declared a cash dividend of $0.25 per share on the outstanding common stock; dividends will be paid in January, 2020. Oct $ Current assets Property and equipment, net Total assets Liabilities and Equity Liabilities Stockholders' equity: $0.80 cumulative preferred stock, $10 par, 400 shares issued Common stock, $9 par, 6,500 shares issued Paid-in capital in excess of par-common Retained earnings 37.000 Nov Dec 4.000 58,500 18,500 22.000 Requirements $ 140,000 Total liabilities and equity 1. Journalize Madrid Jewelry's transactions. Explanations are not required. 2. Report the company's stockholders' equity at December 31, 2019. Net income for 2019 was $30,000. Print DoneStep by Step Solution
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