Remaining Time: 1 hour, 57 minutes. 47 seconds. Question Completion Status: Moving to another question will save this response Question 4 XYZ inc issued 6,000 shares of is $10 par value common stock in exchange for land that has a market value of $84,000. The entry to record this transaction would include OAA credit to Paid in Capital in Excess of Par Value Common Stock for $24.000 OBA credit to Land for $60,000 OCA debit to Land for 560,000. ODA debit to Common Stock for $60,000 & Moving to another question will save this response SAMBUNG Question 4 of 15 1 points Sevente Question 4 of 15 Remaining Time: 1 hour, 59 minutes, 39 seconds. Question Completion Status: (7.5 Grades) Hamad Town Company had the following balances in the stockholders' equity accounts at Dec. 31, 2020: Common stock, $10 par, 50,000 shares authorized, 30,000 shares issued and outstanding $300,000 WEBCAM RECORD Paid in Capital in Excess of Par Value, Common Stock Retained Earnings The following transactions occurred during 2021: 1. Feb. 20. Purchased 2,000 of its own shares for $18 per share. 3. April 07, Paid the cash dividends declared early in March 10 2 March 10 Declared a $2 per share cash dividend on the outstanding common stock 4. May 20, Sold all treasury shares for $19 each. 200,000 500,000 5.Oct. 1: Declared 10% stock dividends on the outstanding common stock for the record of Nov. 1 and to be distributed on Dec. 10, The market value of stock on Oct 1 was $14 per share. 6. Dec 10, Distributed the shares which declared on Oct. 1. Z.Dec.25. Implemented a 2-for-1 stock split, when the market value of stock was $26 per share. NOTE: If there is no entry. please write: "NO ENTRY" Required: Prepare Journal entries to record transactions that occurred during 2021. CLEARLY INDICATE THE DEBITS & CREDITS Example: on 1 January 2020, XYZ Company pays $10,000 cash to purchase land Answer 1/1/2020 Dr. Land Cr. Cash 10,000 10,000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) B Paragraph IUS Arial ~ 10pt Av I. X Question Completion Status: The following comparative balance sheets 2019 & 2020 and additional information for "National Company" are given: Assets Dec. 31, 2020 Dec. 31, 2019 Cash $156,000 $26,000 Accounts Receivable 52,000 48,000 Inventory and supplies 30,000 58,000 Investments 0 36,000 Machines 114,000 104,000 Accumulated depreciation-Machines (28.000) (20.000) Total Assets $324.000 $252.000 Liabilities & Stockholders' Equity Note payable $ 74,000 $ 54,000 Bonds payable (long-term) 74,000 94,000 Common Stock 80,000 44,000 Retained Earnings 96.000 60.000 Total Liabilities & Stockholders' $324.000 $252.000 Equity Income Statement & Additional information: 1. Net income for the current year ending December 31, 2020 is $58,000. 2 Sold investments for cash, cost $36,000 and resulting in $6,000 gain 3. The only changes affecting retained earnings are net income and cash dividends paid. 4. All the following transactions are in cash Purchased new machines, repay bonds payable, and issuance common stock Required