Business, 24.03.2020 20:51 raiindrxp

Diane's Designs has two classes of stock authorized: 8%, $10 par value preferred and $1 par value common. As of January 1, 2021, the following accounts had the following balances: Common Stock $10,000, preferred stock $5,000, retained earnings was $9,600. The following transactions affect stockholders' equity during 2021, its first year of operations: January 1-Dec. 31 Net Income $25,000 January 1 Issue 200,000 shares of common stock for $15 per share. February 6 Issue 1,000 shares of preferred stock for $11 per share. October 10 Purchase 10,000 shares of its own common stock for $18 per share. November 12 Resell 5,000 shares of treasury stock at $20 per share. December 31 Paid dividends of $3,000 What is the balance in common stock, preferred stock, additional paid in capital, treasury stock and retained earnings at the end of 2021

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Diane's Designs has two classes of stock authorized: 8%, $10 par value preferred and $1 par value co...