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Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders equity during 2021,
Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders equity during 2021, its first year of operations:
January | 2 | Issues 100,000 shares of common stock for $21 per share. | ||
February | 6 | Issues 1,600 shares of 7% preferred stock for $13 per share. | ||
September | 10 | Purchases 12,000 shares of its own common stock for $26 per share. | ||
December | 15 | Resells 6,000 shares of treasury stock at $31 per share. |
Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $21 per share. February 6 Issues 1,600 shares of 7% preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $26 per share. December 15 Resells 6,000 shares of treasury stock at $31 per share
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