Question: Please, i need urgent help to the solution. I want the general journal first. Thanks GL1101-Based on Problem 11-2A LO C3, P2, P3 OnPoint Company

Please, Please, i need urgent help to the solution. I want the generali need urgent help to the solution. I want the general journal first. Thanksjournal first. Thanks GL1101-Based on Problem 11-2A LO C3, P2, P3 OnPointCompany reports the following components of stockholders' equity on December 31, 2016:Common stock-$19 par value, 128,8e shares authorized, 58,8ee shares issued and outstandingPaid-in capital in excess of par value, common stock Retained earnings Total

GL1101-Based on Problem 11-2A LO C3, P2, P3 OnPoint Company reports the following components of stockholders' equity on December 31, 2016: Common stock-$19 par value, 128,8e shares authorized, 58,8ee shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 588,8ee 75,888 41e,8e8 $ 985,888 In year 2017, the following transactions affected its stockholders' equity accounts. 1 Purchased 5,e8 shares of its own stock at $23 cash per share Jan. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record Feb. 28 Paid the dividend declared on January 5 July 6 Sold 1,98e of its treasury shares at $27 cash per share Aug. 22 Sold 3,18e of its treasury shares at $20 cash per share Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record Oct. 28 Paid the dividend declared on September 5 Dec. 31 Closed the $154,88 credit balance (from net income) in the Income Summary account to Retained Earnings General Statement of Stockholders Impact on General Journal Ledger Trial Balance RE In year 2017, the following transactions affected its stockholders equity accounts. Prepare the necessary journal entries. If no journal entry is required, select "No journal entry required" in the first input box. View transaction list

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!