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Diane's Designs has two classes of stock authorized: 7%, $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: 7%, $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 $14 per share. February 6 Issue 1,000 shares of preferred stock for $11 per share. October 10 Purchase 10,000 shares of its own common stock for $14 per share. November 12 Resell 4,000 shares of treasury stock at $22 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.) View transaction list Journal entry worksheet 1 2. 3 4 Record the issuance of 200,000 shares of common stock for $14 per share. Northwest Clothing Supply has the following transactions during the year related to stockholders' equity: January 1 Issues 2,000 shares of no-par value common stock for $17 per share. March 15 Issues 700 shares of $20 par value preferred stock for $24 per share. December 1 Declares a cash dividend of $2 per share to all stockholders of record (both common and preferred) on December 15. December 15 Northwest clothing Supply has fixed the Record Date for both common and preferred shares as December 15. December 31 Pays the cash dividend declared on December 1. 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 Journal entry worksheet 1 2 3 4 5 > Record the issuance of 2,000 shares of no-par value common stock for $17 per share
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