Requirements 1. Record the transactions in Starborn's general journal. 2. Prepare the Starborn's stockholders' equity section of the balance sheet as of December 31, 2024. Assume that Starborn was authorized to issue 2,200 shares of preferred stock and 500,000 shares of common stock: Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2024, is $2,010,000. Print Done More info Jan. 16 Feb. 15 Jun. 10 Jul. 30 Declared a cash dividend on the 6%, $105 par noncumulative preferred stock (1,000 shares outstanding). Declared a $0.30 per share dividend on the 105,000 shares of $2 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. Paid the cash dividends. Split common stock 2-for-1. Declared a 40% stock dividend on the common stock. The market value of the common stock was $8 per share. Distributed the stock dividend. Purchased 5,400 shares of treasury stock at $11 per share. Sold 2,700 shares of treasury stock for $13 per share. Sold 1,600 shares of treasury stock for $7 per share. Aug. 15 Oct. 26 Nov. 8 Nov. 30 Print Done Requirement 1. Record the transactions in Starborn's general oumal (Record debits first, then credits. Select the explanation on the line of the journal entry tbl. nos entry is met 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 6%, 5105 par noncumulative preferred stock (1,000 shares outstanding Decored a $0.30 por share dividend on the 105.000 shares 152 par var common stock outstanding. The date of record is January 31, and the payment date is February 15, Date Accounts and Explanation Debit Credit Jan 16 Feb. 15: Paid the cash dividends. Dobit Credit Date Accounts and Explanation *** Jun. 10: Split common stock 2-for-1. Date Accounts and Explanation Debit Credit Jun. 10 Jul. 30: Declared a 40% stock dividend on the common stock. The market value of the common stock was $8 per share. Date Accounts and Explanation Credit Jul. 30 Debit Aug. 15: Distributed the stock dividend. Date Accounts and Explanation Debit Credit Aug. 15 Oct. 26: Purchased 5,400 shares of treasury stock at $11 per share. Date Accounts and Explanation Debit Credit Oct. 26 Nov. 8: Sold 2,700 shares of treasury stock for $13 per share. Date Accounts and Explanation Debit Credit Nov. 8 Nov. 30: Sold 1,600 shares of treasury stock for $7 per share. Date Accounts and Explanation Debit Credit Nov. 30 Requirement 2. Prepare the Starbor's stockholders' equity section of the balance sheet as of December 31, 2024. Assume that Startiom was authorized to issue 2,200 wes of greleed lock and 500,000 shares of common stock. Both preferred stock and common stock were issued at pat. The ending balance of retained eamings as of December 31, 2024 $2.010.000 ( parentheses or a minus sign for amounts to be subtracted) Starbor Manufacturing Co. Balance Sheet (Partial) December 31, 2024 Stockholders' Equity Paid In Capital Total Paid-in Capital
