Saved Help 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, 500 shares of preferred stock and 6,000 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 3, 100 shares of common stock for $62 per share. May 15 Purchase 600 shares of treasury stock for $55 per share. July 10 Resell 400 shares of treasury stock purchased on May 15 for $60 per share. October 15 IGUO 400 shares of preferred stook for $65 per share. December 1 Declare a cash dividend on both common and preferred stock of $2.50 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, $500; Common Stock, $60; Additional Paid-in Capital, $86,000; and Retained Earnings, $34,500. Net income for the year ended December 31, 2021, is $14,800. 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.) Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry R the first account field.) View transaction list Journal entry worksheet Record the issuance of 3,100 shares of common stock for $62 per share. Note: Enter debits before credits General Journal Debit Credit Date March 01, 2021 Record entry Clear entry View general journal Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the begini 2021, 500 shares of preferred stock and 6,000 shares of common stock have been issued. The following transactk affect stockholders' equity during 2021: March 1 Issue 3,100 shares of common stock for $62 per share. May 15 Purchase 600 shares of treasury stock for $55 per share. July 10 Resell 400 shares of treasury stock purchased on May 15 for $60 per share. October 15 Issue 400 shares of preferred stock for $65 per share. December 1 Declare a cash dividend on both common and preferred stock of $2.50 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: Preferre Stock, $500; Common Stock, $60; Additional Paid-in Capital, $86,000; and Retained Earnings, $34,500. Net income the year ended December 31, 2021, is $14,800. 2. Select whether each of the following transactions increases (+) or decreases ( - ) total assets, total liabilities, and total st equity. (If none of the categories apply for a particular item, leave the cell blank.) Transaction Total Assets Total Liabilities Total Stockholders' Equity Issue common stock Purchase treasury stock Resell treasury stock Issue preferred stock Declare cash dividends Pay cash dividends
