A company has the following two classes of stock authorized: 7%, $10 par value preferred and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 1 Issue 200,000 shares of common stock for $17 per share. February 6 Issue 1,000 shares of preferred stock for $13 per share. October 10 Purchase 8,000 shares of its own common stock for $15 per share. November 12 Resell 4,000 shares of treasury stock at $21 per share.
A company has the following two classes of stock authorized: 7%, $10 par value preferred and $1 par value common. The following transactions affect
| January | 1 | Issue 200,000 shares of common stock for $17 per share. | ||
| February | 6 | Issue 1,000 shares of |
||
| October | 10 | Purchase 8,000 shares of its own common stock for $15 per share. | ||
| November | 12 | Resell 4,000 shares of |
Record each of these transactions. (If no entry is required for a particular transaction/event, select "No
1- Record the issuance of 200,000 shares of common stock for $17 per share.
2- Record the issuance of 1,000 shares of preferred stock for $13 per share.
3- Record the purchase of 8,000 shares of its own common stock for $15 per share.
4- Record the reselling of 4,000 shares of treasury stock at $21 per share.
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