Diane's Designs Has Two Classes of Stock Authorized: 8%, $10 $\quad$

question 1

Essay

Diane's Designs 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 1 $\quad$$\quad$ Issue 200,000 shares of common stock for $\$ 15$ per share.
February 6 $\quad$$\quad$ Issue 1,000 shares of preferred stock for $\$ 11$ per share.
October 10 $\quad$$\quad$ Repurchase 10,000 shares of its own common stock for $18 per share.
November 12 $\quad$ Reissue 5,000 shares of treasury stock at $\$ 20$ per share. Record each of these transactions.

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