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For Feet's Sake has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity
For Feet's Sake has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 February 6 Issues 100,000 shares of common stock for $30 per share. Issues 2,500 shares of 75 preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $35 per share. December 15 Resells 6,000 shares of treasury stock at $40 per share. Required: 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 Record the issuance of 100,000 shares of common stock for $30 per share. Nate: Enter debits befies credits View transaction list Journal entry worksheet < 1 2 3 4 Record the issuance of 2,500 shares of 7% preferred stock for $13 per share. Note: Enter debits before credits. Date February 06, 2024 I General Journal Debit Credit View transaction list Journal entry worksheet < 1 2 3 4 Record the purchase of 12,000 shares of its own common stock for $35 per share. Note: Enter debits before credits. Date September 10, 2024 General Journal Debit Credit View transaction list Journal entry worksheet 1 < 1 2 2 3 Record the resale of 6,000 shares of treasury stock at $40 per share. Note: Enter debits before credits. Date December 15, 2024 General Journal Debit Credit
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