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Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par...

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Accounting

Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders equity during 2015, its first year of operations:

January 2 Issues 100,000 shares of common stock for $18 per share.
February 6 Issues 1,300 shares of 7% preferred stock for $13 per share.
September 10 Repurchases 12,000 shares of its own common stock for $23 per share.
December 15

Reissues 6,000 shares of treasury stock at $28 per share.

Required:

Record each of these transactions

1-Issues 100,000 shares of common stock for $18 per share. Record the transaction.

2-Issues 1,300 shares of 7% preferred stock for $13 per share. Record the transaction.

3-Repurchases 12,000 shares of its own common stock for $23 per share. Record the transaction.

4-Reissues 6,000 shares of treasury stock at $28 per share. Record the transaction.

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