Business, 24.11.2021 09:40, lilybrok04

The following transactions, among others, occurred during the current year. Jan. 15 Issued 1,000 shares of preferred stock for $60 cash per share.
Jan. 20 Issued 4,000 shares of common stock at $34 cash per share.
May. 18 Announced a 2-for-1 common stock split, reducing the par value of the common stock to $10 per share. The number of shares authorized was increased to 100,000 shares.
June. 1 Issued 2,000 shares of common stock for $56,000 cash.
Sep. 1 Repurchased 2,500 shares of common stock at $16 cash per share.
Oct. 12 Sold 900 treasury shares at $19 cash per share.
Dec. 22 Issued 500 shares of preferred stock for $57 cash per share.

Required:
For the above entries, outline the effects of each transaction and the related journal entries.

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The following transactions, among others, occurred during the current year. Jan. 15 Issued 1,000 s...