Question

Complete the Statement of Changes in the necessary Journal entries to record the events a and b described af of Changes in Owners Equity for Menlo Oaks, Inc. Prepare allo ecord the events a and b described below Journal entry Journal entry W Corporation receives chantering any a Techarter referred to $10 par v o res with Common rock values are the sed a total of 0.800 shares d e common R $10 cash per share . Sold 5.000 shares of the preferred stock 118 cash pe e. Net Income for the years .300 d. Dividends of $20,000 were stributed to the stock owners a Menlo Oaks Inc. Statement of Changes in Owner's Equity For the Year Ended December 31, 2018 (in Dollars) Stockholders' Equity Contributed Capital Common stock Preferred stock Additional polisin capital common stock Additional pain capital, preferred stock Total contributed capital Retained earnings Dividends Total stockholders' equity Date Credit

Answer 1

Answer is given based on photo clarity

I can see preferred stock of 5,000 shares issued at $ 16 per share

Statement of Changes in Owners ' Equity For the year Ended December 2018 Contributed Capital Common stock Preferred stock Additional paid in capital Common stock Additional paid in capital Preferred stock Total Contributed capital $40,000 $50,000 $360,000 $30,000 $480,000 $95,000 -$20,000 Retained Earnings Dividend Total Stockholders Equity $555,000 General Journal Debit Credit $400,000 Cash $40,000 $360,000 To Common Stock To Additional paid in Capital Common Stock $80,000 Cash To Preferred Stock To Additional paid in Capital Preferred Stock $50,000 $30,000