Donnie Hilfiger has two classes of stock authorized: $$1$ par preferred and $$0\mathrm{.}01$ par value common. As of the beginning of $2024,310$ shares of preferred stock and $4,100$ shares of common stock have been issued. The following transactions affect stockholders$$ equity during $2024$:

March $1$ Issue $1,200$ shares of common stock for $$43$ per share.

May $15$ Repurchase $410$ shares of treasury stock for $$36$ per share.

July $10$ Resell $210$ shares of treasury stock purchased on May $15$ for $$41$ per share.

October $15$ Issue $210$ shares of preferred stock for $$46$ per share.

December $1$ Declare a cash dividend on both common and preferred stock of $$0\mathrm{.}60$ per share to all stockholders of record on December $15.($Hint: Dividends are not paid on treasury stock.$)$

December $31$ Pay the cash dividends declared on December $1.$

 

 

Required:

Record each of these transactions.

Answer rating: 100% (QA)

Based on the provided information here are the recorded transactions for Donnie Hilfigers stockholde... View the full answer