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Allenby Honer is a brond new, publicly traded honey manufacturer. The company just began operations in the first quarter of the ver 2023 . tisted below are the deseriptions of the transactions the company recorded during the first quarter. Please fecord the journal entry for each of these transactions (if necessary and prepare the three main financial statements for the company. Allenby's income statement, statement of retained earnings, and classified bafance sheet. If necessary, round alf numbers in the journat entries to the nearest penny and all numbers on financial staterients to the nearest dollar. 2. Jan 1) Allenby Honers Board of Directors authorized 1,000,000 shares of $3 par common stock and 50,000 shares of $40 par, 4$ preferred Jan 1) Allenby Honey issued 300,000 shares of its $3 par common stock at a market price of 518 per share. Jan 2) Allenty Honey issued 20,000 shares of its $40 par, 4$ preferred stock at a market price of 545 per share. Jan 2) Allenty Honey issued 200,000 shares of its $3 par common stock at a market price of $22 per share. Jan 2) Allenby Honey issued 4%, tive-year bonds with a face value of $1,000,000. These bonds were issued at a bond price of 98 . The bonds pay interest quarterly. In addition to recording the journal entry to account for the issuance of these bonds, please prepare the accompanying bond amortization table. Jan 2) Allenby Honey signed a $480,000,10%, three-vear notes payable with Spartan Savings Bank. Allenty will make quarterly payments on this loan of $40,000 plus interest. In addition to recording the journal entry to account for the recelpt of funds for sipning this note, please prepore the accompanying loan amortization table. order acquire this focility, the compony made a $200,000 cash down payment and signed a 9%, twenty:vear mortgage with Kotter toans for the remainder. Allenby will make monthly payments of 516,195.07 on this mortgage. in addition to recording the journal entry to account for the acquisition of the building, please prepare the accompanying mortgage amortization table common stock. Allenby purchased these shares from the open market at a market peice of $0.50 per share. These 200,000 shares ate onlya small portion of Winnie's outstandinc common shares and Allenby. subsequently, did not have significant influence over the other company. Jan 3) Allenby Honey purchased $600,000 worth of 3%, flve veaf corporate bonds from Robin's Ice Cream. These bonds were purchased arface value, pay interest quarterly, and will be held to maturity. on its mortgage. Reference Allenby's morgage amortization table to determine the portion of the $16,195,07 payment which is applied towards interest and the portion applied towards the mortgage's principal. Feb 1) Allenby Honey repurchased 80,000 shares of its own previously issued common stock. The shares were repurchased at a market price of $20 per share. Loans on its morkage Reference Allenby's mortsage amortization table to determine the portion of the 516,195.07 payment which is applied towards interest and the portion applied towards the mortrace's principal balance. 81 62 8). B4. 35 25. Mar 1) Allenby Honey sold 50,000 shares of the treasury stock which was purchased on february ist. These shares were sold at a market price of $22 per share. Mar 1) Allenby Honey sold 100,000 shares of its equity investment in Winnie Industries' common stock. The shares were sold at a market price of $0.40 per share. Mar 15) Allenby Honey dectared an $0.80 per share cash dividend on common shares and a normal quarterly dividend on preferred shares. Allenby set the date of record for this upcoming payment as March Find and will pay the dividends on March 3oth. Mar 221 The date of fecoed on Alienbrs dividend declaration passed War 30 Allentry Honer paid the dividends declared on March 15 th payabie with 5 partan Dank. Reterence Allenbys notes parable amortuation toble to determine the total amount of this payment as welf as the portion of the porment that was applied to onincipal and interest, respectively Mar 33) Allenby Honey made a quarterly interest payment on the 4N. five-year bonds vie company issued on lanuary 2 nd. Aeference Altenby's bond amortization table to determine the amount of the cash payment the company made to its bondholders, the amount of the discount (premium) which was mortized, and the total amount of interest expense the company recoenized on its books. on its moncofe. Reference Alienbrs mongace amortiuation table to determine the portion of the 515.195 or piryment which is applied towards interest and the portion applied towards the mortegge's. principal. Mar 31) Allenby Honey received a cash dividend of 5.05 per share from Winnie industries for its remainint equity investment in the company's commion stock. 14. 14! 14t. 14) 140 149 Mar 32MAllenby Honey received a quarterly interest payment from Robin's ice Cream for the corporate bonds it owns. Mar 31)Allenby Honey recorded the joumal entry to account for the inventory on its books at the end of the quarter. Mur suMilenty Honer recorded sales fevenue for the period Mar stwallenty Honey recorded coGs for the quarter Mar 31)Allenty Honey recorded the purchase of equipenent and supplies duting the period Mar 31jAllenby Honey recorded the company/s operatine expenses for the petiod Mar 31) Allenby Honey wrote a Check, to the US, Government for its auartelfy income tax expense value of its equity investment in Winnie Industries to it fair market. value, At the end of the quaner, Winhie industries' common stock was tradine on the market at a market price of $1.00 per share. Altenby did not need to adjast the book value of its imvestment in Robin's ice Creain's bonds. Mar st) Allenby Honey recorded the closing entry to close its cash dividend account for the period

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