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Tillman Comfort Specialists, Inc. reported the following stockholders' equity on its balance sheet at June 30, 2018: (Click the icon to view the partial balance sheet.) Read the requirements Requirement 1. Identity the different classes of stock that Tillman Comfort Specialists has outstanding. Tilman has M outstanding Requirement 2. What is the par value per share of Tillman Comfort Specialists' preferred stock? The par value of preferred stock is $ por share. Requirement 3. Make two summary journal entries to record issuance of all the Tilman Comfort Specialists' stock for cash Explanations are not required. (Red Begin by recording the issuance of the preferred stock. Date Accounts Debit Credit Next, record the issuance of the common stock Dato Accounts Credit Choose from any list or enter any number in the input fields and then continue to the next question. June 30, 2018 Tilmen Comfort Specialists Inc. reported the following stockholders' equity ons balance sheet Click the icon to view the partial Dance sheet) Read the woments p ate Dividends Payable accounts for preferred and common Requirement. No preferred dividends are in arrears, jour the declaration of a $200.000 dividend at June 30, 2018 and the payment of the wided on July 20, 2018 U An explanation is not required. Record deb t the credits Excude explanations from any umalis Begin by recording the declaration of a $200.000 dividenda ne 30 2018 Record the payment of the divided on July 20, 2018 Choose from any list or enter a number in the input folds and then continue to the next Question nfort s i Data Table pecialis ce of all s first, then credits. Exclu $ 1,300,000 Stockholders' Equity Paid-In Capital: Preferred Stock-5%, ? Par Value; 625,000 shares authorized, 325,000 shares issued and outstanding Common Stock-$1 Par Value; 7,000,000 shares authorized, 1,350,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital 1,350,000 2,600,000 5,250,000 11,800,000 Retained Earnings $ 17,050,000 Total Stockholders' Equity Print Print Done] + Specialists has outstanding. i Requirements cial first, then cre 1. Identify the different classes of stock that Tillman Comfort Specialists has outstanding 2. What is the par value per share of Tillman Comfort Specialists' preferred stock? Make two summary journal entries to record issuance of all the Tillman Comfort Specialists' stock for cash. Explanations are not required. No preferred dividends are in arrears. Journalize the declaration of a $200,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. Use separate Dividends Payable accounts for preferred and common stock. An explanation is not required. Print Done

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