In our review of the accounting records of Crew Corp., we discover that during 2020, stockholders' equity transactions were all recorded in the common stock account. Our first step is to recreate the journal entries for the year that affected equity.

Required

a. Provide the correct journal entries for the stockholders' equity transactions for 2020.

b. What is the correct ending balance of common stock?

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Oct. 15: Purchased 200 shares for treasury at $20 per share Common Stock 4,000 0 Beginning balance 7,500 June 1: Sold 500 shares of common stock ($1 par) at $15 per share 5,400 July 31: Sold 300 shares of common stock ($1 par) at $18 per share 2,100 Dec. 1: Sold 100 shares treasury stock at $21 11,000 Ending balance