Please assist with the attached list of questions in detail. Thanks!
Please assist with the attached list of questions in detail. Thanks!
There are two problems this week covering the equity sec±on of the balance sheet.Click the tab at the bo²om of the screen when you are ready for problem 2.The stockholders equity sec±on of the balance sheet of Frederick Mining Company is as fFrederick Mining CompanyEquity Sec±on of Balance Sheet as of January 1, 2016Common stock, $10 par value, 200,000 shares authorized120,000 shares issued1,200,000Paid-in capital in excess of par value3,711,250Retained earnings4,651,255Total equity9,562,505Create a journal entry (if needed) for each of the following items.Prepare an updated equity sec±on of the balance sheet as of December 31, 2016.Scroll1/28/2016 Frederick Mining enters into a loan-modi³ca±on agreement with the bank, agreeing to ap2/15/2016 Frederick Mining board of directors declares a $1.50-per-share dividend payable on 3/31/3/31/2016 Cash dividend declared on 2/15/2016 is paid.7/22/2016 Frederick Mining board of directors declares a 10% stock dividend to be paid 8/15/2016 t8/15/2016 Stock dividend declared on 7/22/16 is paid.9/18/2016 Frederick Mining buys back 5,000 shares of company stock on the open market for $52 p12/31/2016 Frederick Mining had the following income and expense account balance as of 12/31/201DebitSales revenueCost of goods sold4,752,600Administra±ve salary expense436,500O´ce expense118,560Deprecia±on expense12,000Transporta±on expense18,400Interest expense82,80012/31/2016 Close out dividends.Journal EntriesDebit
Frederick Mining CompanyEquity SecTon of Balance Sheet as of December 31, 2016
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