Kk28.help me solve june 8 On December 31, 2024, Sunland Company had 1,360,000 shares of $5 par common stock issued and outstanding. At December 31,2024, stockholders' equity had the amounts listed here.Common StockAdditional Paid-in CapitalRetained Earnings1.2.Transactions during 2025 and other information related to stockholders' equity accounts were as follows.3.4.5.Feb. 8May 9Jun. 8Jun. 10Jul, 10On January 10, issued at $105 per share 111,000 shares of $100 par value, 9% cumulative preferred stock.On February 8, reacquired 14,100 shares of its common stock for $10 per share.On May 9, declared the yearly cash dividend on preferred stock, payable June 10, to stockholders of record on May 31.On June 8, declared a cash dividend of $1.80 per share on the common stock outstanding, payable on July 10 to stockholdersof record on July 1.Net income for 2025 was $3,695,000.Dec. 31Cash$6,800,000Treasury StockCash Dividendsdiv1,870,0001,150,000CashJISHI HE SALE U Par Free, LUCKDividends PayableCashDividends PayableCash DividendsStock DividendsCommon Stock Dividends DistributableDividends PayableIncome Summary1410009990002422080999000242262036950003335141009990024220699900242262

Journal entry represents the initial recording the financial transactions of the company. It…

Answered: On December 31, 2024, Sunland Company…

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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On December 31, 2024, Sunland Company had 1,360,000 share 2024, stockholders' equity had the amounts listed here.