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please help record each transaction Required information Problem 10-6A Record...

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Accounting

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Required information Problem 10-6A Record equity transactions and prepare the stockholders' equity section (LO10-2, 10-3, 10 4,105,107) [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 2 Issue 110,000 shares of comnon stock for $70 per share. February 14 Issue 60,000 shares of preferred stock for $12 per share. May 8 Purchase 11, 000 shares of its own common stock for $60 per share. May 31 Resel1 5,500 shares of treasury stock for $65 per share. Decenber 1 Declare a cash dividend on its connon 5 tock of $0.25 per share and a $36,000 ( 6K of par value) cash dividend on its preferred stock payable to all stockholders of record on Decenber 15. The dividend is payable on Decenber 30. (Hint: oividends are not paid on treasury stock.) December 30 pay the cash dividends declared on Decenber 1. Required: 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entr account field.)

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