A company has the following two classes of stock authorized: 9%, $10 par value preferred and $1 par value common. The transactions affect stockholders' equity during 2021, its first year of operations: January 1 Issue 300,000 shares of common stock for $17 per share. February 6 Issue 1,000 shares of preferred stock for $11 per share. October 10 Purchase 9,000 shares of its own common stock for $15 per share. November 12 Resell 5,000 shares of treasury stock at $25 per share. Record each of these transactions. (If no entry Is requlred for a particular transactlon/event, select "No Journal Entry Re the first account fleld.) View transaction list Journal entry worksheet < 1 > 2 3 Record the purchase of 9,000 shares of its own common stock for $15 per share. Note: Enter debits before credits. Date General Journal Debit Credit Oct 10, 2021 Record entry Clear entry View general jourmal

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.