Thought Comfort Specialists, Inc. reported the following stockholders' equity on its balance sheet of June 30,...

Thought Comfort Specialists, Inc. reported the following stockholders' equity on its balance sheet of June 30, 2018: Click the loon to view the partial balance sheet) Read the requirements Requirement 1. Identity the different classes of stock that thoughtful Comfort Specialists has standing Thoughtful has preferred stock and common stock outstanding. Requirement 2. What is the par value per share of Thoughtful Comfort Specialists preferred stock? The par value of preferred stock is $ 5 por share Requirement 3. Make two summary journal entries to record issuance of all the Thought Comfort Specialists' stock for cash. Explanations are not required. (Record debits first, then credits. Exdude explanations from any journal entries.) Begin by recording the issuance of the preferred stock. Credit Accounts Date Cash

Thoughtful 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 z. wat is the par value per snare or inougntur Comfort Specialists prererred stock The par value of preferred stock is $ 5 per share Requirement 3. Make two summary journal entries to record issuance of all the Thoughtful Comfort Specialists' stock for cash. Explanations are not credits. Exclude explanations from any journal entries.) Begin by recording the issuance of the preferred stock. Date Accounts Debit Credit Cash

Data Table Stockholders' Equity Paid In Capital: Preferred Stock-7%, ? Par Value: 600,000 shares authorized, 320,000 shares issued and outstanding Common Stock-$1 Par Value: 7,000,000 shares authorized, 1,310,000 shares issued and outstanding $ 1,600,000 1,310,000 2,800,000 Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings Total Stockholders' Equity 5,710,000 12.300,000 $ 18,010,000 rinth - Prim [ Done Print Done

Requirements 2. 3. Identify the different classes of stock that Thoughtful Comfort Specialists has outstanding What is the par value per share of Thoughtful Comfort Specialists' preferred stock? Make two summary journal entries to record issuance of all the Thoughtful Comfort Specialists' stock for cash. Explanations are not required. No preferred dividends are in arrears. Journalize the declaration of a $700,000 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.