Required Information (The following information applies to the questions displayed below.) Sun Corporation received a charter that authorized the issuance of 101,000 shares of $7 par common stock and 21,000 shares of $75 par, 5 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation 2018 Jan. 5 Sold 15. 150 shares of the $7 par non stock for $9 per share. 12 Sold 2,100 shares of the 5 percent preferred stock for $85 per share. Apr. 5 Sold 20,200 shares of the 87 par mon stock for $11 per share. Dec.31 During the year, earned $305, 100 in cash revenue and paid $236,700 for cash operating expenses. 31 Declared the cash dividend on the outstanding shares of preferred stock for 2018. The dividend will be paid on February 15 to stockholders of record on January 10, 2019. 2019 Feb. 15 Paid the cash dividend declared on December 31, 2018. Mar. 3 Sold 3,150 shares of the $75 par preferred stock for $95 per share. May. 5 Purchased 550 shares of the common stock as treasury stock at $14 per share. Dec.31 During the year, earned $251.000 in cash revenues and paid $170,200 for cash operating expenses. 31 Declared the annual dividend on the preferred stock and a $0.75 per share dividend on the common stock Required Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. Indicating to provide separate effect on accounting equation for Revenue, Operating expense, and leave the cell blank in there is no effect.) Prev 1 2 3 of 3 Score answer > 2018 Jan. 5 sold 15,150 shares of the $7 par common stock for $9 per share. 12 Sold 2,100 shares of the 5 percent preferred stock for $85 per share. Apr. 5 Sold 20,200 shares of the $7 par common stock for $11 per share. Dec. 31 During the year, earned $305,100 in cash revenue and paid $236,700 for cash operating expenses. 31 Declared the cash dividend on the outstanding shares of preferred stock for 2018. The dividend will be paid on February 15 to stockholders of record on January 10, 2019. 2019 Teb. 15 Paid the cash dividend declared on December 31, 2018. Mar. 3 Sold 3, 150 shares of the $75 par preferred stock for $95 per share. May. 5 Purchased 550 shares of the common stock as treasury atok at $14 per share. Dec. 31 During the year, earned $251,000 in cash revenues and paid $170,200 for cash operating expenses 31 Declared the annual dividend on the preferred stock and a $0.75 per share dividend on the common stock. Required a. Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. Indicating to provide separate effect on accounting equation for Revenue, Operating expense, and leave the cell blank If there is no effect.) Sun Corporation Accounting Equation Stockholders' Equity Event Assest Lilabilities Prey 1 2 3 of 3 Score answer > MacBook Air Sun Corporation Accounting Equation Stockholders' Equity Event Assest =Liabilities Cash Dividends Payable " Preferred Stock Common Stock Pald-In Capital in Excess of Preferred Stock Paid in Capital In Excess of Common Stock Treasury Stock Retained Earnings Accounts Titles for Retained Earnings 2018 Jan.5 Jan. 12 Apr.5 Dec 31 Dec.3 Dec. 31 Bal. 2019 Feb. 15 Mar 3 May 5 Dec 3 Dec 3 Prey 1 2 3 of 3 !!! Score answer >
