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For Feet's Sake has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issues 100,000 shares of common stock for $27 per share. February 6 Issues 2,200 shares of 7% preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $32 per share. December 15 Resells 6,000 shares of treasury stock at $37 per share. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list

For Feet's Sake has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issues 100,000 shares of common stock for $27 per share. February 6 Issues 2,200 shares of 7% preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $32 per share. December 15 Resells 6,000 shares of treasury stock at $37 per share. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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D t n inces For Feet's Sake has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issues 100,000 shares of common stock for $27 per share. February 6 Issues 2,200 shares of 7% preferred stock for $13 per share.. September 18 Purchases 12,000 shares of its own common stock for $32 per share. December 15 Resells 6,000 shares of treasury stock at $37 per share. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 3 Record the issuance of 100,000 shares of common stock for $27 per share. Note: Enter debits before credits. Date January 02, 2024 General Journal Debit Credit
Transcribed Image Text:D t n inces For Feet's Sake has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issues 100,000 shares of common stock for $27 per share. February 6 Issues 2,200 shares of 7% preferred stock for $13 per share.. September 18 Purchases 12,000 shares of its own common stock for $32 per share. December 15 Resells 6,000 shares of treasury stock at $37 per share. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 3 Record the issuance of 100,000 shares of common stock for $27 per share. Note: Enter debits before credits. Date January 02, 2024 General Journal Debit Credit
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