On January 2, 2015, ABC Co. was authorized to issue 300,000 shares of common stock, par value $10 per share and 50,000 shares of 6% Preferred stock, par value $100 per share. Record the following events for 2015:

1. Issued 100,000 shares of common stock at $15 per share.

Debit Credit

2. Issued 11,000 shares of preferred stock at $105 per share.

Debit Credit

3. Reacquired 2,000 shares of common stock at $18 per share.

Debit Credit

4. Reissued 500 shares of treasury stock for $10,000.

Debit Credit

5. Declared the annual cash dividend on the preferred stock and a $1 per share dividend on the

common stock. This will be paid the following year.

Debit Credit