A company has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders equity during Year 1, its first year of operations: January 2 Issues 100,000 shares of common stock for $20 per share. February 6 Issues 1,500 shares of 8% preferred stock for $12 per share. September 10 Purchases 10,000 shares of its own common stock for $25 per share. December 15 Resells 5,000 shares of treasury stock at $30 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.)

Exercise 10-6B Record issuance of stock and treasury stock transactions (LO10-2, 10-3, 10-4) A company has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during Year 1, its first year of operations: January 2 Issues 100,000 shares of common stock for $20 per share. February 6 Issues 1,500 shares of 8% preferred stock for $12 per share. September 10 Purchases 10,000 shares of its own common stock for $25 per share. December 15 Resells 5,000 shares of treasury stock at $30 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 X > 1 Record the issuance of 100,000 shares of common stock for $20 per share. 2 Record the issuance of 1,500 shares of 8% preferred stock for $12 per share. 3 Record the purchase of 10,000 shares of its own common stock for $25 per share. Record the resale of 5,000 shares. 4 Note : = journal entry has been entered Record entry Clear entry share. Credit View general journal