Answered step by step
Verified Expert Solution
Question
1 Approved Answer
there are five steps to this question i did some and stuck on the others please tell me if i did them right also please
there are five steps to this question i did some and stuck on the others please tell me if i did them right also please show how you got your answers thank you
Italian Stallion has the following transactions during the year related to stockholders' equity. February 1 Issues 5,400 shares of ne par common stock for $16 per share. May 15 Issues 600 shares of $10 par value, 9.55 preferred stock for $13 per share October 1 Declares a cash dividend of $0.95 per share to all stockholders of record (both common and preferred Detober 15 October 15 Date of record October 31 Pays the cash dividend declared on October 1. Required: 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 220 O Italian Stallion has the following transactions during the year related to stockholders' equity February 1 Issues 5,4ee shares of no par common stock for $16 per share. May 15 Issues 680 shares of $10 par value, 9.5% preferred stock for $13 per share. October 1 Declares a cash dividend of $8.95 per share to all stockholders of record (both common and preferred) October 15 October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Required: Record each of these transactions. (if no entry is required for a particular transaction/event, select "No Journal Entry Required" the first fie View transaction list Journal entry worksheet 2020 SCL doc O Journal entry worksheet 1 4 5 Record the issuance of 5,400 shares of no par common stock for $16 per share I Notes Enter debits before credits Debit Credit Date General Journal February 01 Cash Common Stock 86,400 86,400 Financial Account.docx 2020 Summer C...docx 2020 Summer Cl.doc O Viewransacuons Help Journal entry worksheet 4 5 Record the declaration of a cash dividend of $0.95 per share to all stockholders of record (both common and preferred) on October 15. Notes Enter debits before credits. Date General Journal Debit Credit October 01 Dividends Financial Account docx 2020 Summer C.docx @ 2020 Summerdoa o A . Journal entry worksheet Financial Account docx 2020 Sunner CL doo 2020 Summardo Journal entry worksheet 3 4 Record payment of the cash Notes Enter debits before credits Date General Journal Debit Credit October 31 Financial Accountdocx 2020 Summer CL docx 2020 Summer CL arch eStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started