Question

Italian Stallion has the following transactions during the year related to stockholders’ equity.
February 1 Issues 6,000 shares of no-par common stock for $16 per share.
May 15 Issues 700 shares of $10 par value preferred stock for $13 per share.
October 1 Declares a cash dividend of $1.25 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.



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  • CreatedJuly 15, 2014
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