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  3. 1. stockholders' equity mj co. reported the follow

1. Stockholders' Equity MJ Co. reported the following summarized balance sheet at December 31, 2018:...

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Accounting

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1. Stockholders' Equity MJ Co. reported the following summarized balance sheet at December 31, 2018: Assets: Current assets Property and equipment, net Total assets $ 33,400 106.600 $140,000 $ 37,000 Liabilities and Equity Liabilities Equity: $0.80 cumulative preferred stock, $10 par, 400 shares issued Common stock, $9 par, 6,500 shares issued Paid in capital in excess of par, common stock Retained earnings Total liabilities and equity 4,000 58,500 18,500 22.000 $140,000 During 2019, MJ completed these transactions: Feb 13 Issued 5,300 shares of common stock for $12 per share. Jun 7 Declared the regular cash dividend on the preferred stock. Jun 24 Paid the cash dividend on the preferred stock. Aug 9 Declared and distributed a 20% stock dividend on the common stock when the market price of the common stock was $17 per share. Oct 26 Reacquired 700 shares of common stock as treasury stock paying $20 per share. Nov 20 Sold 300 shares of the treasury stock for $24 per share. Dec 31 Declared a cash dividend of $0.25 per share on the outstanding common stock that will be paid in January 2020. REQUIRED: Journalize MJ's transactions above

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