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please prepare journal entries, balance sheet, and debt to assets ratio Heckler Machinery, reported the following account balances on January 1. The company entered into
please prepare journal entries, balance sheet, and debt to assets ratio Heckler Machinery, reported the following account balances on January 1. The company entered into the following transactions during the year. January 15 Issued 18,000 sharen of $1 par comton stock for $76,000 cash. January 31 collected $3,000 from customers on account. February 15 Reacquired 3,260 shares of $1 par eomon stock into treasury for $35,860 cash. March 15 Redssued 2,260 shares of treasury stock for $26,860 cash. nugust 15 Reissued 600 shares of treasury stook for $4,600 cash. September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of consion stock. October 1 Iseued 100,10 -year, $1,140 bonds, at a quoted bond price of 101. Detober 3 Wrote off a $1,500 balance due fron a customer who went bankrupt. December 29 Recorded $256,000 of service revenue, al1 of which was collected in cash. Decenber 30 Paid $226,000 eash for thin year's wages through December 31 . (Ignore payroll taxes and payrol1. deductions.) Decenber 31 calculated $10,000 of depreciation tor the year to be recorded, (Ignore accrual adjustmente for intere and income taxes.) Heckler Machinery, reported the following account balances on January 1. The company entered into the following transactions during the year. January 15 Issued 18,000 sharen of $1 par comton stock for $76,000 cash. January 31 collected $3,000 from customers on account. February 15 Reacquired 3,260 shares of $1 par eomon stock into treasury for $35,860 cash. March 15 Redssued 2,260 shares of treasury stock for $26,860 cash. nugust 15 Reissued 600 shares of treasury stook for $4,600 cash. September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of consion stock. October 1 Iseued 100,10 -year, $1,140 bonds, at a quoted bond price of 101. Detober 3 Wrote off a $1,500 balance due fron a customer who went bankrupt. December 29 Recorded $256,000 of service revenue, al1 of which was collected in cash. Decenber 30 Paid $226,000 eash for thin year's wages through December 31 . (Ignore payroll taxes and payrol1. deductions.) Decenber 31 calculated $10,000 of depreciation tor the year to be recorded, (Ignore accrual adjustmente for intere and income taxes.)
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