Required information Problem 10-6A Record equity transactions and pre.docx

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Required information Problem 10-6A Record equity transactions and prepare the stockholders' equity section (LO10-2, 10-3, 10- 4, 10-5, 10-7) [The following information applies to the questions displayed below Major League Apparel has two classes of stock authorized: 6% , $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations January February 14 Issue 44,000 shares of preferred stock for $12 per share. May May December 1 Declare a cash dividend on its common stock of $0.45 per share and a $26,400 (6% of par value) cash 2 Issue 110,000 shares of common stock for $54 per share. 8 Purchase 11,000 shares of its own common stock for $44 per share. 31 Resell 5,500 shares of treasury stock for $49 per share. dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 1. Problem 10-6A Part 1 equired: - Record each of these transactions. (If no entry is required for a particular transaction, select "No Journal Entry Required" in the rst account field.) View transaction list View transaction list X Record the issuance of 110,000 shares of common stock for $54 per share. 1 hare. 2 Record the
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