December 30 dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) Required: 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" account field.) Journal entry worksheet Record the purchase of 12,000 shares of its own common stock for $43 per share. Note: Enter debits before credits. Journal entry worksheet Record the resale of 6,000 shares of treasury stock for $48 per share. Note: Enter debits before credits. equired: Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" ir count field.) Journal entry worksheet Record the declaration of a cash dividend on its common stock of $0.40 per share and a $17,200 ( 4% of par value) cash dividend on its preferred stock payable to all stockholders. The dividend is payable on December 30 . (Hint: Dividends are not paid on treasury stock.) Note: Enter debits before credits. Required information [The following information applies to the questions displayod below.] Tennis Apparel has two classes of stock authorized: 4%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issue 120,000 shares of common stock for $53 per share. February 14 Issue 43,000 shares of preferred stock for $13 per share. May 8 Purchase 12,000 shares of 1 ts own common stock for $43 per share, May 31 Resell 6,000 shares of treasury stock for $48 per share. December 1 Declare a cash dividend on its common stock of $9.40 per share and a $17,200 (4k of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 3e. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 1. equired: Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first ccount field.) Required: 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Rec account field.) Journal entry worksheet \begin{tabular}{lll} 7 & 1 \end{tabular} \mid Record the entry on December 15, the date of record. Note: Enter debits before credits. Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Requir ccount field.) Journal entry worksheet Record the payment of the cash dividends declared on December 1. Note: Enter debits before credits. December 30 dividend is payable on December 30 . (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on Decenber 1. Required: 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in th account field.) Journal entry worksheet 567 Record the issuance of 43,000 shares of preferred stock for $13 per share. Note: Enter debits before credits. Tennis Apparel has two classes of stock authorized: 4%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issue 120,000 shares of common stock for $53 per share. February 14 Issue 43,000 shares of preferred stock for $13 per share. May 31 Resell 6,000 shares of treasury stock for $48 per share. cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on Decesber 30. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 1. 2. Prepare the stockholders' equity section of the balance sheet as of December 31,2024 . Net income for the year was $473,000 (Amounts to be deducted should be indicated by a minus sign.)
