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There are 8 Parts.. Please help!! Excess of Par - Common.) Tree Top Company had the following transactions in 2027: (Click the icon to view
There are 8 Parts.. Please help!!
Excess of Par - Common.) Tree Top Company had the following transactions in 2027: (Click the icon to view the transacions.) Requirements Requirement 1. Joumalize the transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entr 1. Journalize the transactions. Jan. 1: Issued 30,000 shares of $5 par value Dommon stock for a total of $210,000. 2. Calculate the balance in Retained Earnings on December 31, 2027. Assume the balance on January 1,2027 was $4,750 and net income for the year was S463,000. 3. Prepare the stockhoders' equity section of the balance sheet as of December 31, 2027. There was no preferred stock issued prior to the 2027 transactions. More info Jan. 1 lssued 30,000 shares of $5 par value common stock for a total of $210,000. Jan. 10 Issued 10,000 shares of 3%,57 par value preferred stock in exchange for land with a market value of $18D,COD. Dec. 15 Declared tolal cash dividends of 525,000 . Dec. 20 Declared a 10% common stock dividend when the market value of the stock was so, 00 per share. Dec. 31 Paid the cash dividends. Dec. 31 Distributed the stock dividendStep by Step Solution
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