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  3. a company has two classes of stock authorized: 7 ,

A company has two classes of stock authorized: 7 , $10 par preferred, and $1...

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Accounting

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A company has two classes of stock authorized: 7 , $10 par preferred, and $1 par value common. The folowing fransactions affect stockholders' equity during Year 1 , its first year of operations: Janaary 2 Tanues 100,000 wharnn of eonson stoek for $27 per share- Pebruary. 6. Tawwen 2,260 maren of 74 preferred atoek tor $13 per share. September 10 Purehasea 12,000 nharne of its eon eoeason atoek tor 132 per thare. becenber is thesel1. 6,080 wharen of treawary stook at 137 per share. Required: Record each of these transactions. Af no entry is required for a particular transactionievent, select "No Joumal Entry Requined" in the first account field.) Journal entry worksheet 34 Recerd the issuance of 100,000 shares of common stock for 127 per share

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