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Italian Stallion has the following transactions during the year related to stockholders' equity. February 1 Issues 5,400 shares of no-par common stock for $16
Italian Stallion has the following transactions during the year related to stockholders' equity. February 1 Issues 5,400 shares of no-par common stock for $16 per share. May 15 Issues 600 shares of $10 par value preferred stock for $13 per share. October 1 Declares a cash dividend of $0.95 per share to all stockholders of record (both common and preferre October 15. October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Required: Record each of these transactions. Note: 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 1 2 3 4 5 Record payment of the cash dividend declared on October 1. Note: Enter debits before credits. Date General Journal Debit Credit October 31 Dividends Payable Cash Record entry Clear entry View general journal
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