Question: Help please! I need to complete Journal Multiple step income statement Retained earnings Balance sheet nsive Problem 4 Comp Pro blen Selected transactions completed by
nsive Problem 4 Comp Pro blen Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of $20 par common stock at $30, receiving cash. b. Issued 4,000 shares of $80 par preferred 5% stock at $100, receiving cash. C. Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp at $40 per share, plus a $150 brokerage com- g. Purchased 8,000 shares of treasury common stock at $33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for $24 per mission. The investment is classified as an available-for-sale investment. share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. Continued)
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