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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 during
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: Issues 100,000 shares of common stock for $27 per share. January 2 February 6 Issues 2,200 shares of 7% preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $32 per share. December 15 Resells 6,000 shares of treasury stock at $37 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 1 2 3 4 Record the issuance of 100,000 shares of common stock for $27 per share. Record the issuance of 2,200 shares of 7% preferred stock for $13 per share. Record the purchase of 12,000 shares of its own common stock for $32 per share. Record the resale of 6,000 shares of treasury stock at $37 per share. Note: = journal entry has been entered Record entry Clear entry X share. Credit View general Journal
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