Will you help me solve the entire problem? Thank you
JUULUU Lyuity SICRHolders Instructions Jun. Jul. 6 5 Sold all of the treasury stock for $26 per share. Declared a 2% Stock dividend on common stock, to be capitalized at the market price of the stock. which is $26 per share. Issued the certificates for the dividend declared on July 5. Purchased 30,000 shares of treasury stock for $20 per share. Declared a $0.12-per-share dividend on common stock Closed the two dividends accounts to Retained Earnings. 15 23 28 31 Dec Required: 1. Enter the January 1 balances in accounts for the stockholders'equily accounts Nsted. It required, round your answers to the nearest dollar 2. Journalize the entries to record the transactions, and post to the eight selected accounts. Assume that the closing entry for revenues and expenses has been made and post net income of $1,000,000 to the retained earnings account. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dolo 3. Prepare a statement of stockholders' equity for the year anded December 31, 20Y6. Assume that net income was $1,000,000 for the year ended December 31, 20Y6. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If there is an amount is zero, enter "O! 4. Prepare the Stockholders'Equity section of the December 31, 20Y6, balance sheet. For those boxes in which you must enter subtracted or negative numbers use a minus sign." Refer to the Nst of Amount Descriptions provided for the exact wording of the answer choices for text entries. Dec. 31 Retained Earnings 279.698.00 Accounts Jan. 1 Bal. 7,380,000 Apr. 10 1,440,000 Aug. 15 176,400 Dec. 31 Bal. 8,996,400 Pald-In Capital in Excess of Stated Value-Common Stock Jan. 1 Bal. 848,700 Apr. 10 288,000 Jul. 5 52,920 Dec. 31 Bal. 1,189,620 Retained Earnings Dec. 31 oc. 31 279,698 Jan. 1 Bal. 33,497,000 Dec. 31 Dec. 31 Bal. Treasury Stock Jan. 1 Bal. 419,400 Jun. 6 419,400 Nov. 23 600,000 Dec. 31 Bal. 600,000 Paid-in Capital from Sale of Treasury Stock eck My Work Retained Earnings 279,698 Jan. 1 Bal. Dec. 31 33,497,000 Dec. 31 Dec. 31 Bal. Treasury Stock 419,400 Jan. 1 Bal. 419,400 Jun. 6 Nov. 23 600,000 Dec. 31 Bal. 600,000 Paid-In Capital from Sale of Treasury Stock Jun. 6 186,400 Stock dividends Distributable 176,400 Aug. 15 176,400 Jul. 5 Stock dividends Jul 5 229,320 Dec. 31 229,320 Cash Dividends Dec. 28 50,378 Dec. 31 50,378 Check My Work All work saved. Book Calculator Print Item Entries for selected corporate transactions Instructions Chart of Accounts Amount Descriptions IT Accounts Journal Statement of Stockholders' Equity Stockholders' Equity Statement of Stockholders' Equity minus sign. If there is an amount is zero, entero". Refer to the list of Amount Descriptions provided for the exact wording of the answer choices for text entries. Question not attempted. Score: 0/174 Morrow Enterprises Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2046 Paid-in Capital in Common Stock Excess of Stated Value Paid-in Capital from Sale of Treasury Stock Retained Earnings Treasury Stock Total Check My Work ter 12 (Not Gr. eBook Calculator Print Item Entries for selected corporate transactions Instructions Chart of Accounts Amount Descriptions !T Accounts Journal Statement of Stockholders' Equity Stockholders' Equity 4. Prepare the Stockholders'Equly' section of the December 31, 2016 balance sheet. For those boxes in which you must enter subtracted or negative number of the answer choices for text entries Question not attempted. Score: 0/79 Morrow Enterprises Inc. Balance Sheet December 31, 2046 T.AL... 1 Stockholders' Equity Paid in capital: eBook Calculator Printem Entries for selected corporate transactions Chart of Accounts Amount Descriptions !T Accounts Journal Statement of Stockholders' Equity Instructions Morrow Enterprises Inc, manufactures bathroom foxtures. Morrow Enterprises' stockholders equity accounts, with balances on January 1, 2016, are as follows: Common stock, $20 stated value (500,000 shares authorized, 369,000 shares issued) Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (23,300 shares, at cost) $7,380,000 848,700 33,497,000 419,400 The following selected transactions occurred during the year: Jan. 22 Apr Jun Jul 10 6 5 Paid cash dividends of $0.08 per share on the common stock The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $27.656 issued 72,000 shares of common stock for $24 per share Sold all of the treasury stock for $26 per share. Declared a 2% Stock dividend on common stock, to be capitalized at the market price of the stock, which is $26 per share. issued the certificates for the dividend declared on July 5. Aug 15 Check My Work Email Instructor
