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In: Accounting
National League Gear has two classes of stock authorized: 4%, $20 par preferred, and $5 par...
National League Gear has two classes of stock authorized: 4%, $20 par preferred, and $5 par value common. The following transactions affect stockholders’ equity during 2021, National League’s first year of operations:
| February | 2 | Issue 1.5 million shares of common stock for $35 per share. | |
| February | 4 | Issue 600,000 shares of preferred stock for $23 per share. | |
| June | 15 | Purchase 150,000 shares of its own common stock for $30 per share. | |
| August | 15 | Resell 112,500 shares of treasury stock for $45 per share. | |
| November | 1 | Declare a cash dividend on its common stock of $1.50 per share and a $480,000 (4% of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: Dividends are not paid on treasury stock.) | |
| November | 30 | Pay the dividends declared on November 1. |
Solutions
ekkarill92 answered 1 year agoRelated Solutions
National League Gear has two classes of stock authorized: 4%, $20 par preferred, and $5 par...
National League Gear has two classes of stock authorized: 4%,
$20 par preferred, and $5 par value common. The following
transactions affect stockholders’ equity during 2021, National
League’s first year of operations:
February
2
Issue 1.5 million shares of common stock for $35 per
share.
February
4
Issue 600,000 shares of preferred stock for $23 per share.
June
15
Purchase 150,000 shares of its own common stock for $30 per
share.
August
15
Resell 112,500 shares of treasury stock for...
National League Gear has two classes of stock authorized: 4%, $20 par preferred, and $5 par...
National League Gear has two classes of stock authorized: 4%,
$20 par preferred, and $5 par value common. The following
transactions affect stockholders’ equity during 2021, National
League’s first year of operations:
February
2
Issue 1.5 million shares of common stock for $35 per
share.
February
4
Issue 600,000 shares of preferred stock for $23 per share.
June
15
Purchase 150,000 shares of its own common stock for $30 per
share.
August
15
Resell 112,500 shares of treasury stock for...
National League Gear has two classes of stock authorized: 5%, $20 par preferred, and $5 par...
National League Gear has two classes of stock authorized: 5%,
$20 par preferred, and $5 par value common. The following
transactions affect stockholders’ equity during 2021, National
League’s first year of operations:
February
2
Issue 1.3 million shares of common stock for $33 per
share.
February
4
Issue 580,000 shares of preferred stock for $24 per share.
June
15
Purchase 130,000 shares of its own common stock for $28 per
share.
August
15
Resell 97,500 shares of treasury stock for...
National League Gear has two classes of stock authorized: 5%, $20 par preferred, and $5 par...
National League Gear has two classes of stock authorized: 5%,
$20 par preferred, and $5 par value common. The following
transactions affect stockholders’ equity during 2021, National
League’s first year of operations:
February 2 Issue 1.3 million shares of common stock for $33 per
share.
February 4 Issue 580,000 shares of preferred stock for $24 per
share.
June 15 Purchase 130,000 shares of its own common stock for $28
per share.
August 15 Resell 97,500 shares of treasury stock for...
National League Gear has two classes of stock authorized: 5%, $20 par preferred, and $5 par...
National League Gear has two classes of stock authorized: 5%,
$20 par preferred, and $5 par value common. The following
transactions affect stockholders’ equity during 2021, National
League’s first year of operations:
February 2 Issue 1.5 million shares of common stock for $15 per
share.
February 4 Issue 400,000 shares of preferred stock for $24 per
share. June 15 Purchase 150,000 shares of its own common stock for
$10 per share.
August 15 Resell 112,500 shares of treasury stock for...
National League Gear has two classes of stock authorized: 5%, $20 par preferred, and $5 par...
National League Gear has two classes of stock authorized: 5%,
$20 par preferred, and $5 par value common. The following
transactions affect stockholders’ equity during 2018, National
League’s first year of operations:
February 2 Issue 1.5 million shares of common stock for $30 per
share.
February 4 Issue 550,000 shares of preferred stock for $24 per
share.
June 15 Repurchase 150,000 shares of its own common stock for
$25 per share.
August 15 Reissue 112,500 shares of treasury stock for...
National League Gear has two classes of stock authorized: 6%, $20 par preferred, and $5 par...
National League Gear has two classes of stock
authorized: 6%, $20 par preferred, and $5 par value common. The
following transactions affect stockholders’ equity during 2021,
National League’s first year of operations:
February
2
Issue 1.4 million shares of common stock for $34 per
share.
February
4
Issue 590,000 shares of preferred stock for $22 per
share.
June
15
Purchase 140,000 shares of its own common stock for $29
per share.
August
15
Resell 105,000 shares of treasury stock for...
Major League Apparel has two classes of stock authorized: 4%, $10 par preferred, and $1 par...
Major League Apparel has two classes of stock authorized: 4%,
$10 par preferred, and $1 par value common. The following
transactions affect stockholders’ equity during 2018, its first
year of operations: January 2 Issue 120,000 shares of common stock
for $62 per share. February 14 Issue 52,000 shares of preferred
stock for $13 per share. May 8 Repurchase 12,000 shares of its own
common stock for $52 per share. May 31 Reissue 6,000 shares of
treasury stock for $57 per...
Major League Apparel has two classes of stock authorized: 4%, $10 par preferred, and $1 par...
Major League Apparel has two classes of stock authorized: 4%,
$10 par preferred, and $1 par value common. The following
transactions affect stockholders’ equity during 2021, its first
year of operations:
January
2
Issue 120,000 shares of common stock for $59 per share.
February
14
Issue 49,000 shares of preferred stock for $13 per share.
May
8
Purchase 12,000 shares of its own common stock for $49 per
share.
May
31
Resell 6,000 shares of treasury stock for $54 per...
Major League Apparel has two classes of stock authorized: 5%, $10 par preferred, and $1 par...
Major League Apparel has two classes of stock authorized: 5%,
$10 par preferred, and $1 par value common. The following
transactions affect stockholders’ equity during 2018, its first
year of operations:
January 2 Issue 100,000 shares of common stock for $60 per
share.
February 14 Issue 50,000 shares of preferred stock for $11 per
share.
May 8 Repurchase 10,000 shares of its own common stock for $50
per share.
May 31 Reissue 5,000 shares of treasury stock for $55 per...
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