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I need help on the last 2 journal entries! Required information [The following information applies to the questions displayed below] National Loague Gear has two
I need help on the last 2 journal entries!
Required information [The following information applies to the questions displayed below] National Loague Gear has two classes of stock authorized 5%,$20 par preferred, and 55 par value common. The following transactions affect steckholders' equity duting 2024, National League's first year of operations: February 2. Issue 1.4 mittion shares of comon stock for $21 per share. February 4 Issue 46e, ae0 shares of preferred stock for 524 per share. June 15 Purchase 140,080 shares of its own coneon stock for $16 per share. August 15 Reselt 105 , eee shares of treasury stock for $31 per share. Novenber I declare a cast dividend on its connon stock of $1.40 per share and a s46a, 0e (5) of par value) cash dividend on its preferred steck paysble to all stockholders of record on Noweber i5. (Hint: Dividends are not pald on treasury stock.) Novenber 30 pay the dividends declared on Novenber 1. Required: 1. Record each of these transoctions. Of no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Required information [The following information applies to the questions displayed below] National Loague Gear has two classes of stock authorized 5%,$20 par preferred, and 55 par value common. The following transactions affect steckholders' equity duting 2024, National League's first year of operations: February 2. Issue 1.4 mittion shares of comon stock for $21 per share. February 4 Issue 46e, ae0 shares of preferred stock for 524 per share. June 15 Purchase 140,080 shares of its own coneon stock for $16 per share. August 15 Reselt 105 , eee shares of treasury stock for $31 per share. Novenber I declare a cast dividend on its connon stock of $1.40 per share and a s46a, 0e (5) of par value) cash dividend on its preferred steck paysble to all stockholders of record on Noweber i5. (Hint: Dividends are not pald on treasury stock.) Novenber 30 pay the dividends declared on Novenber 1. Required: 1. Record each of these transoctions. Of no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Step by Step Solution
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