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Accounting
Required information The following information applies to the questions displayed below. Major League Apparel has two classes of stock authorized: $ par preferred, and $ par value common. The following transactions affect stockholdars' equity during its first year of operations: January Issue shares of common stock for $ per share. February Issue shares of preferred stock for $ per share. May Purchase shares of its own common stock for $ per share. May Resell shares of treasury stock for $ per share. December Declare a cash dividend on its common stock of $ per share and a $ of par value cash dividend on its preferred stock payable to all stockholders of record on December The dividend is payable on December Hint: Dividends are not paid on treasury stock. December Pay the cash dividends declared on December Required: Record each of these transactions. If no entry is required for a transactionevent select No Journal Entry Required" in the first account field. Journal entry worksheet 
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The following information applies to the questions displayed below.
Major League Apparel has two classes of stock authorized: $ par preferred, and $ par value common. The following transactions affect stockholdars' equity during its first year of operations:
January Issue shares of common stock for $ per share.
February Issue shares of preferred stock for $ per share.
May Purchase shares of its own common stock for $ per share.
May Resell shares of treasury stock for $ per share.
December Declare a cash dividend on its common stock of $ per share and a $ of par value cash dividend on its preferred stock payable to all stockholders of record on December The dividend is payable on December Hint: Dividends are not paid on treasury stock.
December Pay the cash dividends declared on December
Required:
Record each of these transactions. If no entry is required for a transactionevent select No Journal Entry Required" in the first account field.
Journal entry worksheet
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