Requirement 2 only. Need to prepare stockholders equity section of the balance sheet as of Dec. 31,2018.
Requirement 1. Record the transactions in Halbom's general joumal Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required. select "No entry required on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Jan 16: Declared a cash dividend on the 4%, $100 par noncumulative preferred stock (950 shares outstanding: Declared a 30.25 per share dividend on the 85.000 shares of $ par value common stock outstanding the date of record is January 31, and the payment date is February 15. Accounts and explanation Debit Credit Jan 16 Cash Dividende Dividends Payable Common Dividends Payable Preferred Declared a cash didend Debit Credit Feb. 15: Paid the cash dividends Accounts and Explanation Feb 15 Dividends Payabile Common Dividends Payabile Preferred Cash 3.800 25,050 Paid cash dividend XITJ-42A (Slllllll Halborn Manufacturing Co. completed the following transactions during 2018: Click the icon to view the transactions.) Read the requirements. Jun. 10: Split common stock 2-for-1. Date Debit Credit Accounts and Explanatio No entry required Jun. 10 Jul. 30: Declared a 50% stock dividend on the common stock. The market value of the common stock was $12 per share. Date Credit Accounts and Explanation Stock Dividends Common Stock Dividend Distributable Debit 340,000 Jul. 30 340,000 Declared a 50% stock dividend. Aug. 15: Distributed the stock dividend. Date Debit Credit Aug. 15 Accounts and Explanation Common Stock Dividend Distributable Common Stock-$4 Par Value 340,000 340,000 Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clea X PI3-42A (Simllar to) Halborn Manufacturing Co. completed the following transactions during 2018: Click the icon to view the transactions.) Read the requirements. Oct. 26: Purchased 8,000 shares of treasury stock at $9 per share. Date Credit Accounts and Explanation Treasury Stock-Common Cash Debit 72,000 Oct 26 72,000 Purchased treasury stock. Nov. 8: Sold 4,000 shares of treasury stock for $10 per share. Date Accounts and Explanation Debit Credit Nov. 8 Cash 40,000 Treasury Stock-Common Paid-In Capital from Treasury Stock Transactions 36,000 4,000 Sold treasury stock above cost. Nov. 30: Sold 1,400 shares of treasury stock for $5 per sharo. Date Accounts and Explanation Debit Credit Nov. 30 Cash 7,000 4,000 Paid-In Capital from Treasury Stock Transactions Retained Earnings 1,600 Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All Score: 0.68 of 1 pt 10 of 10 (10 complete) HW Score: 96.76%, 9.68 of 10 pts W P13-42A (similar to) E Question Help Halborn Manufacturing Co. completed the following transactions during 2018: Click the icon to view the transactions.) Read the requirements Requirement 2. Prepare the Halbom's stockholders 'equity section of the balance sheet as of December 31, 2018. Assume that Halbom was authorized to issue 1.200 shares of preferred stock and 300,000 shares of common stock. Both preferred stock and common stock were issued at par The ending balance of retained earnings as of December 31, 2018, is $1,050,000. (Use parentheses or a minus sign for amounts to be subtracted.) Halborn Manufacturing, Co. Balance Sheet (Partial) December 31, 2018 Stockholders' Equity 1,200 shares authorized, 95,000 Paid-in Capital: Preferred Stock-4%, $100 Par Value; 950 shares issued and outstanding Common Stock-$8 Par Value; shares issued Total Paid-In Capital Retained Earnings Treasury Stock-Common; 300,000 shares authorized, shares outstanding shares at cost Total Stockholders' Equity Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All Check
