Business, 25.12.2020 21:10 AmazingColor

Diane's Designs has two classes of stock authorized: 8%, $10 par preferred and $1 par value common. The following transactions affect stockholders' equity during 2015, its first year of operations:January 1 Issue 200,000 shares of common stock for $15 per share. February 6 Issue 1,000 shares of preferred stock for $11 per share. October 10 Repurchase 10,000 shares of its own common stock for $18 per share. November 12 Reissue 5,000 shares of treasury stock at $20 per share. Record each of these transactions. (Omit the "$" sign in your response.)

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Answer from: dakotaadkins20

Date Account title and Explanation Debit Credit

Jan-01 Cash (200,000*$15) 3,000,000

Common stock (200,000*$1) 200,000

Paid in capital in excess of par - 2,800,000

Common stock

(To record issue of 200,000 shares for $15)

Feb-06 Cash (1,000*$11) 11,000

Preferred stock (1,000*$10) 10,000

Paid in capital in excess of par 1,000

- Preferred stock

(To record issue of 1,000 shares for $11)

Oct-10 Treasury stock (10,000*$18) 180,000

Cash 180,000

(To record repurchase of 10,000 shares for $18)

Nov-12 Cash (5,000*$20) 100,000

Treasury stock (5,000*$18) 90,000

Paid in capital in excess of par 10,000

- Treasury stock

(To record reissue of 5,000 treasury stock for $20)

Answer from: Quest

(i know i'm late but the answer's "things about yourself" because you want to list things you're capable of, why you want to open up the business, the amount of money you're putting into it,etc.) i'm guessing you take online school small business, the answers to the quizzes are all over quizlet. just look up your question and type quizlet after it and it'll pop up.

Answer from: Quest

the answer is account d

Which account has the lowest minimum balance requirement? bank account terms and conditions account

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Diane's Designs has two classes of stock authorized: 8%, $10 par preferred and $1 par value common....

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