Required information [The following information oqpiles to the questions dinpioyed below? Erice Compery conpleted the following tronssctont in Year L the first yeor of operation. 1. Issued 46.000 shores of no-por common stock for $15 per share. 2. issued 8,600 thares of $26 par, 6 percent, preforred stock for $25 per share. 3. Paid o cash dividend of $12,900 to preftrred shareholders. 4. Issued a 10 percent stock dividend on no-per common atock. The market volue ot the dividend declaration date wos $20 per shore. 5. Later thot yeor, issued o 2 .for-1 split on the shares of outstanding common stock. The market price of the stock at that time was $60 per shere 6. Produced $200.000 of cosh revenues and incurred $90,000 of cosh opersting expenses. 7. Closed the revenue, expenset, and dividend occounts to re:oined eornings: b. Record the Year 1 transactions in generar joumal form and pont them to T-occounts. Camplete this question by entering your answers in the tabs below. An ine first account fitidd. Journal entry worksheet C D E F D G H Iisued 46,000 shares of no-par common stock for $15 per blare. focond the tranidctori. Bice Company completed the following transactions in Year 1 , the first year of operation 1. Issued 46,000 shares of no-par common stock for $15 per share 2. Issued 8,600 shares of $25 par, 6 percent, preferred stock for $26 per share 3. Pald a cash dividend of $12,900 to preferred shareholders. 4. Issued a 10 percent stock dividend on no-par common stock. The market value at the dividend deciaration date was $20 per share 5. Later that year, 155 ued a 2 -for-1 spitt on the shares of outstanding common stock The market price of the stock at that time was $60 per share. 6. Produced $200,000 of cash revenues and incurred $90,000 of cash operating expenses. 7. Closed the revenue, expense, and dividend accounts to retained earmings c. Prepare the stockholders' equity section of the balance sheet at the end of Year 1 Required information [The following information oqpiles to the questions dinpioyed below? Erice Compery conpleted the following tronssctont in Year L the first yeor of operation. 1. Issued 46.000 shores of no-por common stock for $15 per share. 2. issued 8,600 thares of $26 par, 6 percent, preforred stock for $25 per share. 3. Paid o cash dividend of $12,900 to preftrred shareholders. 4. Issued a 10 percent stock dividend on no-per common atock. The market volue ot the dividend declaration date wos $20 per shore. 5. Later thot yeor, issued o 2 .for-1 split on the shares of outstanding common stock. The market price of the stock at that time was $60 per shere 6. Produced $200.000 of cosh revenues and incurred $90,000 of cosh opersting expenses. 7. Closed the revenue, expenset, and dividend occounts to re:oined eornings: b. Record the Year 1 transactions in generar joumal form and pont them to T-occounts. Camplete this question by entering your answers in the tabs below. An ine first account fitidd. Journal entry worksheet C D E F D G H Iisued 46,000 shares of no-par common stock for $15 per blare. focond the tranidctori. Bice Company completed the following transactions in Year 1 , the first year of operation 1. Issued 46,000 shares of no-par common stock for $15 per share 2. Issued 8,600 shares of $25 par, 6 percent, preferred stock for $26 per share 3. Pald a cash dividend of $12,900 to preferred shareholders. 4. Issued a 10 percent stock dividend on no-par common stock. The market value at the dividend deciaration date was $20 per share 5. Later that year, 155 ued a 2 -for-1 spitt on the shares of outstanding common stock The market price of the stock at that time was $60 per share. 6. Produced $200,000 of cash revenues and incurred $90,000 of cash operating expenses. 7. Closed the revenue, expense, and dividend accounts to retained earmings c. Prepare the stockholders' equity section of the balance sheet at the end of Year 1
