Book Air ACG 2021 Chapter 13 Stock Transactions Jennifer Cainas Alessandra, Inc. is a public company that sells fashionable children's clothes. You are provided the following information: Common Stock: $1 par value, 20,000 shares Preferred Stock: 10% cumulative, 10 par value, 3,000 shares Give the appropriate journal entries for each of the following transactions: 1. On 1/1/16, the company issued 12,000 shares of common stock for $25 per share (for cash). 12000 25 Cash 300,000 12001 CIS 2000 APIC-CS 288000 2. On 2/1/16, the company sold 2,000 shares of preferred stock for $14 per share (for cash). 2000.14 cosh 28.000 prefected stuck 20.000 APIC-PS 8000 3. On 5/1/16 the company purchased 1,000 shares of common stock that had been issued on 1/1/16. The company paid $40 per share. 1000 40 treasury stock $40,000 Cash 10000 4. On 7/31/16 Sold 500 shares of the common treasury stock for $45 per share. 500 .45 cash 22.500 500.40 SISSSSSS Treasury stock 20.00 APIC TS 2500 5. On 12/31/17, the company declared a cash dividend to preferred stockholders, and agreed to a $5 per share cash dividend to the common stockholders. No dividends had been declared prior to this date. 6. On 2/1/18, the company declared a 5% stock dividend to all common stockholders of record on 3/1/18. The market price per share on 2/1 was $60 per share