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Major League Apparel has two classes of stock authorized: 5%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: May May January 2 Issue 100,000 shares of common stock for $52 per share. February 14 Issue 42,000 shares of preferred stock for $11 per share. 8 Purchase 10,000 shares of its own common stock for $42 per share. 31 Resoll 5,000 shares of treasury stock for $47 per share. December 1 Declare a cash dividend on its common stock of $0.35 per share and a $21,000 (58 of par value) cash dividend on ita preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 1. Required: 1. Record each of these transactions. (If no entry is required for a particular transaction, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 6 7 Record the issuance of 100,000 shares of common stock for $52 per share. Note: Enter debits before credits Date General Journal Debit Credit January 02, 2021 Required: 1. Record each of these transactions. (If no entry is required for a particular transaction, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 3 4 5 6 7 Record the issuance of 42,000 shares of preferred stock for $11 per share. Note: Enter debits before credits Date General Journal Debit Credit February 14, 2021 Major League Apparel has two classes of stock authorized: 5%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, Its first year of operations: January 2 Issue 100,000 shares of common stock for $52 per share. February 14 Tenue 42,000 shares of preferred stock for $11 per share. May 8Purchase 10,000 shares of its own common stock for $42 per share. 31 Resell 5,000 shares of treasury stock for $47 per share. December 1 Declare a cash dividend on its common stock of $0.35 per share and a $21,000 (56 of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 1. uired: ecord each of these transactions. (If no entry is required for a particular transaction, select "No Journal Entry Required" in the account field.) iew transaction list Journal entry worksheet Required information the flowing information applies to the questione displayed b A Company A 12000 Saved Help Major League Apparel has two classes of stock authorized: 5%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issue 100,000 shares of common stock for $52 per share. February 14 Tenue 42,000 shares of preferred stock for $11 per share. May B Purchase 10,000 shares of its own common stock for $42 per share. May 31 Resoll 5,000 shares of treasury stock for $47 per share. December 1 Declare a cash dividend on its common stock of $0.35 per share and a $21,000 (58 of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. (HintDividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 1. equired: Record each of these transactions. (If no entry is required for a particular transaction, select "No Journal Entry Required" in the st account field.) View transaction list Journal entry worksheet 1 2 3 Record the declaration of a cash dividend on its common stock of $0.35 per share and a $21,000 (5% of par value) cash dividend on its preferred stock payable to all stockholders. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) Note: Enter debits before credits General Journal Debit Credit Date December 01, 2021 Help Major League Apparel has two classes of stock authorized: 5%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issue 100,000 shares of common stock for $52 per share. February 14 Issue 42,000 shares of preferred stock for $11 per share. May Purchase 10,000 shares of its own common stock for $42 per share. May 31 Resell 5,000 shares of treasury stock for $47 per share. December 1 Declare a cash dividend on its common stock of $0.35 per share and a $21,000 (58 of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 1. Required: 1. Record each of these transactions. (If no entry is required for a particular transaction, select "No Journal Entry Required" in the First account field.) View transaction list Journal entry worksheet Saved Help Major League Apparel has two classes of stock authorized: 5%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issue 100,000 shares of common stock for $52 per share. February 14 Tenue 42,000 shares of preferred stock for $11 per share. May & Purchase 10,000 shares of its own common stock for 942 per share. May 31 Resell 5,000 shares of treasury stock for $47 per share. December 1 Declare a cash dividend on its common stock of $0.35 per share and a $21,000 (58 of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 1. Required: 1. Record each of these transactions. (If no entry is required for a particular transaction, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 Record the payment of the cash dividends declared on December 1. Note: Enter debits before credits General Journal Debit Credit Date December 30, 2021