Record the transactions for the given stock

Reference no: EM131522125

Question: Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2012, its first year of operations:

January 2 Issues 100,000 shares of common stock for $25 per share.

February 6 Issues 2,000 shares of 8% preferred stock for $12 per share.

September 10 Repurchases 10,000 shares of its own common stock for $30 per share.

December 15 Reissues 5,000 shares of treasury stock at $35 per share.

Required: Record each of these transactions.

Reference no: EM131522125

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