The following information applies to the questions displayed below.
Golf Apparel has two classes of stock authorized: $ par preferred, and $ par value common. The following transactions affect stockholders 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.
