Required information [The following information applles, 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 2024,300 shares of preferred stock and 4,000 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024 : March 1 Issue 1,100 shares of comon stock for 542 per share. May 15 Purchase 400 shares of treasury stock for 535 per share. July 10 Resell 200 shares of treasury stock purchased on May 15 for $40 per share. October 15 Issue 200 shares of preferred stock for $45 per share. becember 1 Declare a cash dividend on both common and preferred stock of so.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, 2024: Preferred Stock, \$300; Common Stock, \$40; Additional Paid-in Capital, \$76,000; and Retained Earnings, \$30,500. Net income for the year ended Docember 31,2024 , is $10,800. Required: . Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in he first account field.) Journal entry worksheet 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 45667 Record the issuance of 1,100 shares of common stock for $42 per share. Note: Enter debits before credits. 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Req Required: the first account field.) Journal entry worksheet Record the purchase of 400 shares of treasury stock for $35 per share. Note: Enter debies before credits. 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Requirh Required: the first account field.) Journal entry worksheet Record the resale of 200 shares of treasury stock purchased on May 15 for $40 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 En the first account field.) Journal entry worksheet Record the issuance of 200 shares of preferred stock for $45 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 Entr the first account field.) Journal entry worksheet
