At December 31, 2021, Mountain Corporation reported the stockholders' equity accounts shown here (with dollar amounts in

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At December 31 2021 Mountain Corporation Reported The Stockholders Equity Accounts Shown Here With Dollar Amounts In 1 (83.49 KiB) Viewed 4 times

At December 31, 2021, Mountain Corporation reported the stockholders' equity accounts shown here (with dollar amounts in millions, except per-share amounts). (Click the icon to view the data.) Date b. Requirement 1. Journalize Mountain's transactions in b, c, d, and e. Explanations are not required. (Enter amounts in millions as provided to you in the problem statement. Record debits first, then credits. Exclude explanations from any journal entries.) b. Issuance of 8 million shares of common stock for $13.00 per share. Journal Entry Help L Accounts Payable Cash Common Stock Accounts Dividends Payable Paid-in Capital in Excess of Par-Common Preferred Stock Retained Earnings Treasury Stock Debit Credit More info a. Net income, $441 million b. Issuance of 8 million shares of common stock for $13.00 per share c. Purchase of 5 million shares of treasury stock for $60 million d. Sold 2 million of the treasury shares purchased in part c for $30 million e. Declaration and payment of cash dividends of $36 million Print Mountain's 2022 transactions included i (Click the icon to view the transactions.) Requirements Journalize Mountain's transactions in parts b, c, d, and e. Explanations are not required. What was the overall effect of these transactions (parts a-e) on Mountain's stockholders' equity? Done 1. 2. X Data table Common stock, $3.00 par value per share, 29 million shares issued $ Paid-in capital in excess of par value Retained earnings Treasury stock, at cost Total stockholders' equity Print Done $ 87 44 270 (90) 311 X Clear all Check answer