Problem 10-2A (Algo) Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 10-3, 10-4, 10-5) [The following information applies to the questions displayed below.] Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024, 450 shares of preferred stock and 5,500 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: Issue 2,600 shares of common stock for $57 per share. Purchase 550 shares of treasury stock for $50 per share. Resell 350 shares of treasury stock purchased on May 15 for $55 per share. Issue 350 shares of preferred stock for $60 per share. Declare a cash dividend on both common and preferred stock of $2.00 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. March 1 May 15 July 10 - October 15 December 1 Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, $450; Common Stock, $55; Additional Paid-in Capital, $83,500; and Retained Earnings, $33,500. Net income for the year ended December 31, 2024, is $13,800. Problem 10-2A (Algo) Part 1

Problem 10-2A (Algo) Record equity transactions and indicate the effect on the balance sheet equation (LO102,103,104,105) [The following information opplies to the questions displayed beiow] Donnie Hifiger has two classes of stock authorized: $1 par preferred and $0.01 par value common, As of the beginning of 2024, 450 shares of preferred stock and 5,500 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: Bateh Aisy 15 4a1y:20 cotober is Decethetes In ine 2,60 bhares of cormon steck for 557 per nhare. Durchase 550 bhazes of treandry stoek for $50 per share+ Betel1. 350 ahares of treasury ntoek purchased on Nay. 15 for 555 per nhare. Is sue 350 shares of preferred teock for 560 per thare. Declare a casb dividend on both eonnon and preferred stoek of $2.00 per share eo ald atockholdert of record on December 15 , filinet bividends are not paid on treatury stock. ) December 31 pay the east dividends declared on becenber 1. Donnie Haffiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$450; Common Stock, \$55; Additional Paid-in Capital, \$83,500; and Retained Earnings, \$33,500. Net income for the year ended December 31,2024 , is $13,800. Problem 10-2A (Algo) Part 1 Problem 10-2A (Algo) Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 10-3, 10-4, 10-5) [The following information applies to the questions displayed below.] Donnie Hifiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024,450 shares of preferred stock and 5,500 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 Issue 2,600 shares of common stock for $57 per share. May 15 Purchase 550 shares of treasury stock for $50 per share. July 10 Resel1 350 shares of treasury stock purchased on May 15 for $55 per share. october 15 Issue 350 shares of preferred stock for $60 per share. December 1 Declare a cash dividend on both common and preferred atock of $2.00 per share to all stockholders of record on December 15. (Hint; Dividends are not paid on treasury stock.) December 31 pay the eash dividends declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$450; Common Stock, \$55; Additional Paid-in Capital, $83,500; and Retained Earnings, $33,500. Net income for the year ended December 31,2024 , is $13,800. Problem 10-2A (Algo)