National league gear has two classes of stock authorized 6

Reference no: EM13607531

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 2012, National League's first year of operations:

Feb. 2 Issue 1 million shares of common stock for $25 per share.
Feb. 4 Issue 500,000 shares of preferred stock for $22 per share.

Jun. 15 Repurchase 100,000 shares of its own common stock for $20 per share.

Aug. 15 Reissue 75,000 shares of treasury stock for $35 per share.

Nov. 1 Declare a cash dividend on its common stock of $1 per share and a $600,000 (6% of par value) cash dividend on its preferred stock payable to all stockholders on record on November 15. (Hint: Dividends are not paid on treasury stock.)

Nov. 30 Pay the dividends declared on November 1.

Record each of these transactions.

Feb. 2, 2012

Feb. 4, 2012

Jun. 15, 2012

Aug. 15, 2012

Nov. 1, 2012

Nov. 30, 2012

Reference no: EM13607531

Questions Cloud

Some organizations use internal service departments to : some organizations use internal service departments to provide like services to several divisions or departments within

Select a company maybe your employer and assess how it uses : select a company maybe your employer and assess how it uses data in marketing its products or services. if it is not

Determine an expression for the steadystate temperature tb : a cylindrical metal rod length 2l radius r thermal conductivity k is embedded in a well-insulated wall such that half

A building is designed to resist loading from earthquakes : a building is designed to resist loading from earthquakes. the capacity in terms of force factor is assumed to follow a

National league gear has two classes of stock authorized 6 : national league gear has two classes of stock authorized 6 20 par preferred and 5 par value common. the following

On september 1 2012 algernon company sold a truck for 15000 : on september 1 2012 algernon company sold a truck for 15000 cash. the truck was originally purchased for 40000 and had

Construct a confidence interval of the population : construct a confidence interval of the population proportion at the given level of confidence x 540 n 1200 90

On january 1 2010 you had in supplies inventory 1200 on : on january 1 2010 you had in supplies inventory 1200. on february 1 you purchased supplies costing 1800 and you debited

Sixty people will board a regional jet the mean weight of : sixty people will board a regional jet. the mean weight of the population is 150 pounds with a standard deviation of 30

User Account

All Pages