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April 23, 2014

Homework Help: accounting

Posted by siyao on Saturday, October 29, 2011 at 12:51am.

Finishing Touches has two classes of stock authorized: 8%, $10 par preferred and $1 par value common. The following transactions affect stockholders' equity during 2010, its first year of operations:

January 2 Issue 100,000 shares of common stock for $25 per share.
February 6 Issue 2,000 shares of 8% preferred stock for $12 per share.
September 10 Repurchase 10,000 shares of its own common stock for $30 per share.
December 15 Reissue 5,000 shares of treasury stock at $35 per share.


find the preffered stock on Feb 6 and the treasury stock on Dec 15

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