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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: January 2 Issues 100,000 shares of common stock for $27 per share. 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

  • Record the issuance of 100,000 shares of common stock for $27 per share.

Note: Enter debits before credits.

Date General Journal Debit Credit
January 02, 2024
  • Record the issuance of 2,200 shares of 7% preferred stock for $13 per share.

Note: Enter debits before credits.

Date General Journal Debit Credit
February 06, 2024

Record the purchase of 12,000 shares of its own common stock for $32 per share.

Note: Enter debits before credits.

Date General Journal Debit Credit
September 10, 2024

  • Record the resale of 6,000 shares of treasury stock at $37 per share.

Note: Enter debits before credits.

Date General Journal Debit Credit
December 15, 2024

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