Required information [The following information applies to the questions displayed below.) Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 400 shares of preferred stock and 5,000 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 2,100 shares of common stock for 852 per share. May 15 Purchase 500 shares of treasury stock for $45 per share. July 10 Revell 300 shares of treasury stock purchased on May 15 for $50 per share. October 15 Tage 300 shares of preferred stock for $55 per share. December 1 Declare a cash dividend on both common and preferred stock of $1.50 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.) December 31 Pay the cash dividends declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2021 Preferred Stock. $400, Common Stock. $50: Additional Paid-in Capital, $81,000; and Retained Earnings, $32.500. Net income for the year ended December 31, 2021, is $12,800. 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.) View transaction list Journal entry worksheet 2 3 4 5 1 6 7 Record the issuance of 2,100 shares of common stock for $52 per share. Note: Enter debits before credits General Journal Debit Credit Dato March 01, 2021 of 2 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.) View transaction list Journal entry worksheet Record the purchase of 500 shares of treasury stock for $45 per share, Note: Enter debits before credits General Journal Debit Credit Date May 15, 2021 Required: 1. Record each of these transactions, (If no entry is required for a particular transaction/event, select "No Journal Entry Required the first account field.) 2 View transaction list K Journal entry worksheet 1 2 3 4 5 6 7 cos Record the resell 300 shares of treasury stock purchased on May 15 for $50 per share. Note: Enter debits before credits General Journal Debit Credit Dato July 10, 2021 1. Record each of these transactions. (if no entry is required for a particular transaction/event, select "No Journal Entry Required" the first account field.) Part 1 of 2 View transaction list 7 points os Journal entry worksheet References Record the declaration of a cash dividend on both common and preferred stock of $1.50 per share to all stockholders. (Hint: Dividends are not paid on treasury stock.) Note: Enter debits before credits Date General Journal Dobit Credit December 01, 2021 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.) Tof View transaction filet sBook Journal entry worksheet
