Provide the following journal entries: 1. On Feb. 1 ABC Company issues 100,000 shares for common stock, $1...

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Accounting

Provide the following journal entries:
1.  On Feb. 1 ABC Company issues 100,000 shares forcommon stock, $1 par, and 10,000 shares of preferred stock, 6%,$100 par.  The common stock is sold at$72/share.  The preferred stock is sold at $108 pershare.
2.  On April 1 the ABC Company Board declares theregular preferred dividend.  The record date is April 15,the payment date is April 30.
3.  On May 1 we buy back 10,000 shares of common at$81/share.
4.  On June 15 we sell 1,000 shares of treasury stockat $85/share.
5.  On October 15 we sell 2,000 shares of treasurystock at $62/share.
6.  On Dec. 15 our stock is trading at $110/share. Wedeclare a 2 for 1 stock split.

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Date Accounts Name Debit Credit Cash 100000 72 7200000 Common Stock 100000 1 100000 Additional paid in Capital 100000 72 1 7100000 to record the issue of Common Stock Cash 100000 108 1080000 preference Common Stock See Answer

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