Diane's Designs has two classes of stock authorized: 7%,$10 par value preferred and $1 par...
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Diane's Designs has two classes of stock authorized: 7%,$10 par value preferred and $1 par value common. The following transactions affect stockholders' equity during 2024 , its first year of operations: January 1 Issue 300,000 shares of common stock for $13 per share. February 6 Issue 1,100 shares of preferred stock for $14 per share. October 10 Purchase 10,000 shares of its own common stock for $16 per share. November 12 Resell 4,000 shares of treasury stock at $21 per share. 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.) Journal entry worksheet Record the issuance of 300,000 shares of common stock for $13 per share. Note: Enter debits before credits. Journal entry worksheet Record the issuance of 1,100 shares of preferred stock for $14 per share. Note: Enter debits before credits. Journal entry worksheet Record the purchase of 10,000 shares of its own common stock for $16 per share. Note: Enter debits before credits. Journal entry worksheet Record the reselling of 4,000 shares of treasury stock at $21 per share. Note: Enter debits before credits
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