The balance sheet of Truman Management Consulting, Inc. at December 31, 2023, reported the following stockholders equity Click the icon to view the stockholders equity sedion of the balance sheet) During 2024. Truman completed the following selected transactions Click the icon to view the transactions) Read the requirements Requirement 1. Record the transactions in the general journal (Record debits fint, then credes Select the explanation on the last line of the journal entry table) Feb. 6. Declared a 5% stock dividend on the common stock. The market value of Truman's stock was $24 per share Date Accounts and Explanation Debit Credit Feb 5 Feb 15 Distributed the stock dividond. Date Accounts and Explanation Debit Credit Feb 15 Jul 29 Purchased 1.900 shares of treasury stock at 524 per share Date Accounts and Explanation Debit Credit Jul 29 Nov 27 Declared > 50 20 por share cash dividend on the common stock outstanding Round your awers to the nearest whole dollar) Date Accounts and Explanation Debit Credit Nov 27 Requirement 2. Prepare a retained camnings statement for the year endud December 31, 2024. Assume Truman's net income for the year was $87,000 Enter any increases in retained varnings prior to the subtatal and any decreases to retained coming below the authotal (Check your spelling carefully and do not abbreviate Truman Management Consulting, Inc Statement of Retaimed Earnings The balance sheet of Truman Management Consulting, Inc at December 31, 2023, reported the following stockholders equally Click the icon to view the stockholders' equily section of the balance sheet) During 2024. Truman completed the following selected transactions Click the icon to view the transactions) Read the requirements GO Nov 27 Declared a 50 20 per share cash dividend on the common stock outstanding (Round your answers to the nearest whole dollar Date Accounts and Explanation Debit Credit Nov 27 Requirement 2. Prepare a retained eamings statement for the year ended December 31, 2024 Assame Truman's net income for the year was $87 000 Enter any increases in retained eamings prior to the subtotal and any decreases to retained earnings below the subtotal (Check your speling cerebly and do not abbreviate) Truman Management Consulting, Inc. Statement of Retained Earnings Year Ended December 31, 2024 Requirement 3. Prepare the stockholders equity section of the balance sheet at December 31, 2024 (Use parentheses cramus sign for amounts to be subtracted Truman Management Consulting, Inc. Balance Sheet (Partian December 31, 2024 Stockholders' Equity Paid in Capital Total Paid in Capital Total Stockholders' Equity 1 Data table $ Stockholders' Equity Paid-In Capital Common Stock-$10 Par Value; 200,000 shares authorized, 27,000 shares issued and outstanding Paid In Capital in Excess of Par-Common Total Paid In Capital Retained Earnings Total Stockholders' Equity 270,000 380,000 hole 650.000 157.000 807,000 More info Feb. 6 Feb. 15 Declared a 5% stock dividend on common stock. The market value of Truman's stock was $24 per share Distributed the stock dividend. Purchased 1.900 shares of treasury stock at 324 per share Declared a 50 20 per share cash dividend on the common stock outstanding Jul. 29 Nov. 27 - - X Requirements 1. Record the transactions in the general journal 2. Prepare a retained earnings statement for the year ended December 31 2024. Assume Truman's net income for the year was $87,000 3. Prepare the stockholders' equity section of the balance sheet at December 31, 2024 Print Done
