stockholders' equity! total of 10 slots. ch 12 pt 2 section 2

Instructions Morrow Enterprises inc manufactures bathroom fixtures. Morrow Enterprises stockholders equity accounts, with balances on January 1, 2016, are as follow Common Stock $20 stated value (500,000 shares authorized 375,000 shares issued) Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (25,000 shares, at cost) The following selected transactions occurred during the year Jan Apr Jun 22 Paid cash dividends of $0.08 per share on the common stock. The dividend had been property recorded when declared on December 1 of the preceding fiscal year for $28.000 Issued 75.000 shares of common stock for $24 per share 10 $7,500,000 825,000 33,600.000 450,000 6 5 Sold all of the treasury stock for $26 per share. Dectared a 4% Stock dividend on common stock, to be capitalized at the market price of the stock, which is $25 per share Instructions The following selected transactions occurred during the year Jan Apr Jun Jul Aug Nov Dec. 22 Paid cash dividends of $0.08 per share on the common stock. The dividend had been property recorded when declared on December 1 of the preceding fiscal year for $28.000 Issued 75,000 shares of common stock for $24 per share Sold all of the treasury stock for $26 per share Declared a 4% Stock dividend on common stock, to be capitalized at the market price of the stock, which is $25 per share Issued shares of stock for the Stock dividend declared on July 5 Purchased 30,000 shares of treasury stock for $19 per share. Declared a $0 10-per-share dividend on common stock Closed the two dividends accounts to Retained Earnings 10 6 5 15 23 28 31 Chart of Accounts occurred during the vaar LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 236 Stock dividends Distributable 311 Common Stock 534 Rent Expense 535 Insurance Expense 536 Office Supplies Expense 537 Organizational Expenses 562 Depreciation Expense-Equipment 590 Miscellaneous Expense 710 Interest Expense Chart of Accounts ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Selling Expenses The following calacted transactions occurred during the vaar Chart of Accounts EQUITY 236 Stock dividends Distributable 311 Common Stock 313 Paid-In Capital in Excess of Stated Value-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock dividends Amount Descriptions Balances, January 1 Balances, December 31 Cash dividends Common stock, $20 stated value (500,000 shares authorized, 468,000 shares issued) Excess of issue price over stated value From sale of treasury stock Issued common stock Net income Net loss Purchase of treasury stock Sale of treasury stock Stock dividends Amount Descriptions ISSUGU LUNIIVIT SLUCK Net income Net loss Purchase of treasury stock Sale of treasury stock Stock dividends Retained Earnings Total Total paid-in capital Total stockholders' equity Treasury stock (30,000 shares at cost) Stockholders' Equity 1 Stockholders' Equity 2 Paid-in capital: 5 Morrow Enterprises Inc. Balance Sheet December 31, 20Y6 Shaded cells have feedback Score: 0/79 Instructions Morrow Enterprises inc manufactures bathroom fixtures. Morrow Enterprises stockholders equity accounts, with balances on January 1, 2016, are as follow Common Stock $20 stated value (500,000 shares authorized 375,000 shares issued) Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (25,000 shares, at cost) The following selected transactions occurred during the year Jan Apr Jun 22 Paid cash dividends of $0.08 per share on the common stock. The dividend had been property recorded when declared on December 1 of the preceding fiscal year for $28.000 Issued 75.000 shares of common stock for $24 per share 10 $7,500,000 825,000 33,600.000 450,000 6 5 Sold all of the treasury stock for $26 per share. Dectared a 4% Stock dividend on common stock, to be capitalized at the market price of the stock, which is $25 per share Instructions The following selected transactions occurred during the year Jan Apr Jun Jul Aug Nov Dec. 22 Paid cash dividends of $0.08 per share on the common stock. The dividend had been property recorded when declared on December 1 of the preceding fiscal year for $28.000 Issued 75,000 shares of common stock for $24 per share Sold all of the treasury stock for $26 per share Declared a 4% Stock dividend on common stock, to be capitalized at the market price of the stock, which is $25 per share Issued shares of stock for the Stock dividend declared on July 5 Purchased 30,000 shares of treasury stock for $19 per share. Declared a $0 10-per-share dividend on common stock Closed the two dividends accounts to Retained Earnings 10 6 5 15 23 28 31 Chart of Accounts occurred during the vaar LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 236 Stock dividends Distributable 311 Common Stock 534 Rent Expense 535 Insurance Expense 536 Office Supplies Expense 537 Organizational Expenses 562 Depreciation Expense-Equipment 590 Miscellaneous Expense 710 Interest Expense Chart of Accounts ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Selling Expenses The following calacted transactions occurred during the vaar Chart of Accounts EQUITY 236 Stock dividends Distributable 311 Common Stock 313 Paid-In Capital in Excess of Stated Value-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock dividends Amount Descriptions Balances, January 1 Balances, December 31 Cash dividends Common stock, $20 stated value (500,000 shares authorized, 468,000 shares issued) Excess of issue price over stated value From sale of treasury stock Issued common stock Net income Net loss Purchase of treasury stock Sale of treasury stock Stock dividends Amount Descriptions ISSUGU LUNIIVIT SLUCK Net income Net loss Purchase of treasury stock Sale of treasury stock Stock dividends Retained Earnings Total Total paid-in capital Total stockholders' equity Treasury stock (30,000 shares at cost) Stockholders' Equity 1 Stockholders' Equity 2 Paid-in capital: 5 Morrow Enterprises Inc. Balance Sheet December 31, 20Y6 Shaded cells have feedback Score: 0/79