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Question 2 (8 Marks) Jameela Corporation reports the following stockholders' equity section on December 31, 2019. - Common stock; $10 par value; 200,000 shares authorized;
Question 2 (8 Marks) Jameela Corporation reports the following stockholders' equity section on December 31, 2019. - Common stock; $10 par value; 200,000 shares authorized; 120,000 shares issued and outstanding...cc. ..S 1,200,000 Paid-in capital in excess of par value, common stock. 330,000 Retained earnings. .800,000 S2,330,000 Total Jameela Corp. completed the following transactions related to stockholders' equity in 2020. 1- Feb. 15, Directors declared a $1.50 per share cash dividend payable on March 31 to the Feb. 25 stockholders of record. 2- Mar. 01, Purchased 15,000 shares of its own common for $13 per share. 3- Mar 31, Paid the cash dividend declared on Feb. 15. 4- July 10, Sold 5,000 of its treasury shares at S13 cash per share. S- Oct. 25, Directors declared a 30% stock dividend when the share market price is $15. 6- Dec. 01, Distributed stock dividends declared on Oct. 25. 7-Dec. 15. The company implemented 2-for-1 stock split for its common stock. 8-Dec. 31, Closed the $200,000 credit balance in the Income Summary account (from net income). Required: Prepare journal entries to record each of these transactions for 2012
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