Diane's Designs has two classes of stock authorized: 9%, $10 par value preferred and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations:
January | 1 | Issue 200,000 shares of common stock for $16 per share. | ||
February | 6 | Issue 1,200 shares of preferred stock for $13 per share. | ||
October | 10 | Purchase 9,000 shares of its own common stock for $15 per share. | ||
November | 12 | Resell 6,000 shares of treasury stock at $22 per share. |
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.)
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