Ltalian Stallion has following transactions during the year related to stockholders’ equity
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Ltalian Stallion has following transactions during the year related to stockholders’ equity.
February 1 Issued 4900 shares of no-par common stock for $14 per share.
May 15 Issued 700 shares of $10 par value preferred stock for $11 per share.
October 1 Declares a cash dividend of $0.70 per share to all stockholders of record (both common and preferred) on October 15.
October 15 Date of record.
October 31 Pays the cash dividend declared on October 1.
Required:
Record each of these transactions. (If no entry is required for a transaction/event, select “No journal entry required” In the first account field.)
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