Required information Problem 10-2B Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 103,104,105) [The following information applies to the questions displayed below] Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2021 , 150 shares of preferred stock and 1,900 shares of common stock have been issued. The following transactions affect stockholder' equity during 2021 : March 1 Issue 1,900 additional shares of common stock for $16 per share. Apri1 1 Issue 150 additional shares of preferred stock for $29 per share. June 1 Declare a cash dividend on both common and preferred stock of $0.55 per share to all stockholders of record on June 15. June 30 Pay the cash dividends declared on June 1. August 1 Purchase 250 shares of conmon treasury stock for $13 per share. October 1 Relssue 150 shares of treasury stock purchased on August 1 for $15 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock, \$1,500; Common Stock, \$1,900; Additional Paid-in Capital, \$18,400; and Retained Earnings, \$10,400. Net income for the year ended December 31,2021 , is $7,100. Troblem 10-2B Part 1 Required: 1. 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.) Required: 1. 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.) Journal entry worksheet 56 Record the issuance of 1,900 additional shares of common stock for $16 per share. Note: Enter delits badore credits. Journal entry worksheet 56 Record the issuance of 150 additional shares of preferred stock for $29 per share. Note: Enter debits before credits. Journal entry worksheet Record the declaration of cash dividend on both common and preferred stock of $0.55 per share to all stockholders of record on June 15 . Note: Enter debits before credits. Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No J the first account field.) Journal entry worksheet Record the payment of the dividends declared on June 1. Note: Enter debits before credits. 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Jot the first account field.) Journal entry worksheet Record the purchase of 250 shares of common treasury stock for $13 per share. Note: Enter debits before credits. Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Re the first account field.) Journal entry worksheet
