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Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024, 400 shares
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024, 400 shares of preferred stock and 5,000 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 May 15 July 10 Issue 2,100 shares of common stock for $52 per share. Repurchase 500 shares of treasury stock for $45 per share. Resell 300 shares of treasury stock purchased on May 15 for $50 per share. October 15 Issue 300 shares of preferred stock for $55 per share, December 1 Declare a cash dividend on both common and preferred stock of $1.50 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.) December 31 Pay the cash dividends declared on December 1. Required: Record each of these transactions. Note: 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 6 7 Record the issuance of 2,100 shares of common stock for $52 per share. Note: Enter debits before credits. Date March 01, 2024 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet < 1 .3 4 5 6 7 Record the purchase of 500 shares of treasury stock for $45 per share. Note: Enter debits before credits. Date: May 15, 2024 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 4 5 6 7 Record the resale of 300 shares of treasury stock purchased on May 15 for $50 per share. Note: Enter debits before credits. Date July 10, 2024 General Journali Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet < 1 2 3 5 6 7 Record the issuance of 300 shares of preferred stock for $55 per share. Note: Enter debits before credits. Date October 15, 2024 General Journal Debit Credit View general journal Record entry Clear entry Print View transaction list Journal entry worksheet < 1 2 3 6 7 Record the declaration of a cash dividend on both common and preferred stock of $1.50 per share to all stockholders. (Hint: Dividends are not paid on treasury stock.) Note: Enter debits before credits. Date December 01, 2024 General Journal Debit Credit Record entry Clear entry View general journal Print View transaction list Journal entry worksheet < 1 2 3 4 Record the entry on December 15, the date of record. 7 Note: Enter debits before credits. Date December 15, 2024 General Journal Debit Credit Record entry Clear entry View general journal Print View transaction list Journal entry worksheet 2 3 4 5 6 7 Record the payment of the cash dividends declared on December 1. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry View general journal
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