Question
Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders equity during 2015,
Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders equity during 2015, its first year of operations: |
January | 2 | Issues 100,000 shares of common stock for $18 per share. | ||
February | 6 | Issues 1,300 shares of 7% preferred stock for $13 per share. | ||
September | 10 | Repurchases 12,000 shares of its own common stock for $23 per share. | ||
December | 15 | Reissues 6,000 shares of treasury stock at $28 per share.
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