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Q3 The following transactions of Golden Company occurred during 2015, 2015 January 1 April 1 April 15 June 30 Sept 1 Dec 31 Golden Company issued 8%, 20-year bond payable with maturity value of $600,000. The issue price of the bond is 96. Interest will be paid semi-annually at each June 30 and Requirements: 1. Journalize the transactions. Show your calculations. (30 points) Dec31. Purchased equipment from Denver Company and signed a 5-month, 10% note payable for $18,000 Q4 Cell Wireless Company had the following transactions in 2016, its first year of operations. Issued 20,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $30.00 per share. Warranty claims paid in the amount of $2,400 Paid the first semiannual interest of the 8%, 20-year bond issued at January 1. Paid Denver's 5-month 10% note, plus interest at maturity Accrued warranty expense, which is estimated at 0,5% of sales of $750.000 for 2015. Issued 1000 shares of $10 par value preferred stock. Shares were issued at $90. Earned net income of 250,000$ Declared dividends of $50,000. Preferred dividend is the 6% of par value. Calculate preferred dividend and common dividend for 2016. Requirements: (20 points) a. Journalize the issuance of common stocks. b. Journalize the issuance of preferred stocks. c. Journalize the closing entry for net income d. Journalize the declaration of dividends. Show the distribution between preferred and common. e. Calculate the ending balance of Retained Earnings after closing entries. Duration is 105 minutes.

Q3 The following transactions of Golden Company occurred during 2015 , 2015 January 1 Golden Company issued 8%,20-year bond payable with maturity value of $600,000. The issue price of the bond is 96 . Interest will be paid semi-annually at each June 30 and Dec31. April 1 Purchased equipment from Denver Company and signed a 5 -month, 10% note payable for $18,000 April 15 Warranty claims paid in the amount of $2,400 June 30 Paid the first semiannual interest of the 8%,20-year bond issued at January 1. Sept 1 Paid Denver's 5 -month 10% note, plus interest at maturity Dec 31 Accrued warranty expense, which is estimated at 0,5% of sales of $750.000 for 2015 . Requirements: 1. Journalize the transactions. Show your calculations. ( 30 points) Q4 Cell Wireless Company had the following transactions in 2016, its first year of operations. - Issued 20,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $30.00 per share. - Issued 1000 shares of $10 par value preferred stock. Shares were issued at $90. - Earned net income of 250,000$ - Declared dividends of $50,000. Preferred dividend is the 6% of par value. Calculate preferred dividend and common dividend for 2016 . Requirements: (20 points) a. Journalize the issuance of common stocks. b. Journalize the issuance of preferred stocks. c. Journalize the closing entry for net income d. Journalize the declaration of dividends. Show the distribution between preferred and common. e. Calculate the ending balance of Retained Earnings after closing entries. Duration is 105 minutes

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