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Graded Homework 46. Chapter 12 Sed Help Save & Shot 1.59.24 PM Submit 1 het 11.03.20 PM 25 point to Hammond Manufacturing Inc. was legally incorporated on January 2, 2020 Its articles of incorporation granted it the right to issue an unlimited number of common shares and 100,000 shares of $13.6 non-cumulative preferred shares. The following transactions are among those that occurred during the first three years of operations 2020 Jan 12 Issued 40,100 Comon shares at 4.0 each. 20 Issued 3,000 conson shares to promoters who provided legal services that helped to establish the company. These services had a fair value of $20,000 Issued 72.000 coton shares in exchange for land, building, and equipment, which have fair market values of $352,000, 5472,000, and 10,000 spectively Mar. 4 Purchased equipment at a cost of $8,00 cash. This was thought to be a special bargsta prise. It is felt that at least 10,000 would normally have had to be paid to acquire this equipment. Dec, 31 Ouring 2020, the company incurred a lot of 580,000. The Tacone Smary account was closed. 2021 Jan. 4 Issued 3.000 preferred shares at $64 per share. Dec. 31 The Income Sunary account was closed. Profit for 2021 e 1200,000 2022 Bec. The company declared a cash divideot 50.82 per share on the case payable on December 18 and also declared the required dividend on the preferred shares. 18 Paid the dividends declared on December 4. 33 Profit for the year ended December 31, 2022, was $160,00. The Tacone Sonary account a closed Required: 1. Joumalize the transactions for the years 2020, 2021, and 2022. The company does not use a cash dividends account 0 View transaction View journal entry worksheet 12. mework 36. Chapter 12 Help Save & Su ho L58.26 PM 3. Prepare the equity section on the December 31, 2022, balance sheet what 10120 PM HAMMONO MANUFACTURINGINE Eyecan of the leaseh De 101 Corbed Pred 113.6.100.000 3.000 showing Common shared to. 118.000 dan ding Tood 3 Analysis Component Determine the reassets of Hammond Manufacturing inc. for 2020 2021 and 2022. Is the trend favourable or unter 300 2011 Trend Pre 14 H Next >