Discuss the transactions of italian stallion

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Reference no: EM131522131

Question: Italian Stallion has the following transactions during the year related to stockholders' equity.

February1 Issues 5,000 shares of no-par common stock for $15 per share.

May 15 Issues 500 shares of $10 par value preferred stock for $12 per share.

October 1 Declares a cash dividend of $0.75 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.

Reference no: EM131522131

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