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Diane's Designs has two classes of stock authorized: 6%, $10 par value preferred and $1 par value common. The following transactions affect stockholders' equity during
Diane's Designs has two classes of stock authorized: 6%, $10 par value preferred and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 1 Issue 200,000 shares of common stock for $17 per share. February 6 Issue 900 shares of preferred stock for $12 per share. October 10 Purchase 8,000 shares of its own common stock for $13 per share. November 12 Resell 4,000 shares of treasury stock at $23 per share. 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.) Journal entry worksheet Record the issuance of 900 shares of preferred stock for $12 per share. Note: Enter debits before credits. Date General Journal Debit Credit Feb 06, 2021 Record entry Clear entry View general journal Journal entry worksheet 1 2 4 Record the purchase of 8,000 shares of its own common stock for $13 per share. Note: Enter debits before credits. Date General Journal Debit Credit Oct 10, 2021 Record entry Clear entry View general journal Journal entry worksheet
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