Hamad Town Company had the following balances in the stockholders' equity accounts at Dec. 31,2a Common stock. $10 par, 50.000 shares authorized, 30.000 shares issued and outstanding - Paid in Capital in Excess of Par Value, Common Stock - Retained Earnings The following transactions occurred during 2021: 1. Feb. 20: Purchased 2,000 of its own shares for $ 15 per share 2. March 10. Declared a $1 per share cash divident ne the outstanding common stock. 3. April 07: Paid the cash dividends declared ee 4. May 20: Sold all treasury shares for $16 eac 300.000 200.000 600.000 ch 10. 5. Oct. 1: Declared 10% stock dividends on the Sing common stock for the record of Nov. 1 and to be distributed on Dec 10 The mant v of ok on Oct 1 was $14 per share. 6. Dec. 10. Distributed the shares which declared on Oct. 1. 7. Dec. 25, Implemented a 2-for-1 stock split, when the market value of stock was $26 per share. NOTE: If there is no entry, please write: "NO ENTRY" Required: Prepare Journal entries to record transactions that occurred during 2021.

Hamad Town Company had the following balances in the stockholders' equity accounts at Dec. 31,2a Common stock. $10 par, 50.000 shares authorized, 30.000 shares issued and outstanding - Paid in Capital in Excess of Par Value, Common Stock - Retained Earnings The following transactions occurred during 2021: 1. Feb. 20: Purchased 2,000 of its own shares for $ 15 per share 2. March 10. Declared a $1 per share cash divident ne the outstanding common stock. 3. April 07: Paid the cash dividends declared ee 4. May 20: Sold all treasury shares for $16 eac 300.000 200.000 600.000 ch 10. 5. Oct. 1: Declared 10% stock dividends on the Sing common stock for the record of Nov. 1 and to be distributed on Dec 10 The mant v of ok on Oct 1 was $14 per share. 6. Dec. 10. Distributed the shares which declared on Oct. 1. 7. Dec. 25, Implemented a 2-for-1 stock split, when the market value of stock was $26 per share. NOTE: If there is no entry, please write: "NO ENTRY" Required: Prepare Journal entries to record transactions that occurred during 2021.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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