Finishing Touches has two classes of stock authorized: 9%, $10 par preferred, and $1 par value common. The following transactionsaffect stockholders' equity during 2021, its first year of operations:January 2 Issues 100,000 shares of common stock for $16 per share.February 6 Issues 1,100 shares of 9% preferred stock for $11 per share.September 10 Purchases 11,000 shares of its own common stock for $21 per share.December 15 Resells 5,500 shares of treasury stock at $26 per share.Required:Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" inthe first account field.)View transaction listJournal entry worksheet12 34Record the resale of 5,500 shares.Note: Enter debits before credits.DateGeneral JournalDebitCreditDecember 15, 2021 FIRISHIng Touches has two classes of stock authorized: 9%, $10 par preferred, and $1 par value common. The following transactionsaffect stockholders' equity during 2021, its first year of operations:January 2 Issues 100,000 shares of common stock for $16 per share.February 6 Issues 1,100 shares of 9% preferred stock for $11 per share.September 10 Purchases 11,000 shares of its own common stock for $21 per share.December 15 Resells 5,500 shares of treasury stock at $26 per share.Required:Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" inthe first account field.)View transaction listJournal entry worksheet14Record the purchase of 11,000 shares of its own common stock for $21 pershare.Note: Enter debits before credits.DateGeneral JournalDebitCreditSeptember 10,2021

The journal keeps the record of business transactions on daily basis.

-inishing Touches has two classes of stock authorized: 9%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $16 per share. February 6 Issues 1,100 shares of 9% preferred stock for $11 per share. September 1e Purchases 11,000 shares of its own common stock for $21 per share. December 15 Resells 5,5e0 shares of treasury stock at $26 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

-inishing Touches has two classes of stock authorized: 9%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $16 per share. February 6 Issues 1,100 shares of 9% preferred stock for $11 per share. September 1e Purchases 11,000 shares of its own common stock for $21 per share. December 15 Resells 5,5e0 shares of treasury stock at $26 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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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