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Diane's Designs has two classes of stock authorized: 9%, $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: 9%, $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 100,000 shares of common stock for $12 per share.
February 6 Issue 800 shares of preferred stock for $13 per share.
October 10 Purchase 12,000 shares of its own common stock for $16 per share.
November 12 Resell 6,000 shares of treasury stock at $21 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.)

  1. Record the issuance of 100,000 shares of common stock for $12 per share.
  2. Record the issuance of 800 shares of preferred stock for $13 per share.
  3. Record the purchase of 12,000 shares of its own common stock for $16 per share.
  4. Record the reselling of 6,000 shares of treasury stock at $21 per share.

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