Please Answer In Excel Sheet....! !Required information[The following information applies to the questions displayed below.]Sun Corporation received a charter that authorized the issuance of106,000 shares of $8 par common stock and 19,000 shares of $75par, 6 percent cumulative preferred stock. Sun Corporationcompleted the following transactions during its first two years ofoperation.Year 1January 5January 12April 5December 31December 31 During the year, earned $318,400 in cashrevenue and paid $244,500 for cash operatingexpenses.Declared the cash dividend on the outstandingshares of preferred stock for Year 1. Thedividend will be paid on February 15 tostockholders of record on January 10, Year 2.Year 2February 15Sold 15,900 shares of the $8 par common stockfor $10 per share.Sold 1,900 shares of the 6 percent preferredPaid the cash dividend declared on December 31,Year 1.Sold 2,850 shares of the $75 par preferredstock for $95 per share.May 5Purchased 450 shares of the common stock astreasury stock at $16 per share.December 31 During the year, earned $246,700 in cashrevenues and paid $171,000 for cash operatingexpenses.Declared the annual dividend on the preferredstock and a $0.75 per share dividend on thecommon stock.March 3stock for $85 per share.Sold 21,200 shares of the $8 par common stockfor $12 per share.December 31 a. Prepare the balance sheets at December 31, Year 1 and Year 2.Note: Amounts to be deducted should be indicated with minus sign.

Balance Sheet is a financial statement of a company . which is used to show the assets which the…

Required information [The following information applies to the questions displayed below.] Sun Corporation received a charter that authorized the issuance of 106,000 shares of $8 par common stock and 19,000 shares of $75 par, 6 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of

Required information [The following information applies to the questions displayed below.] Sun Corporation received a charter that authorized the issuance of 106,000 shares of $8 par common stock and 19,000 shares of $75 par, 6 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of

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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