1 Part 1 of 3 3 points eBook A Print n References Required information [The following information applies to the questions displayed below.] Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $390,000 of net income and declared no dividends; the following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $54 cash per share. b. Reacquired 24,000 shares at $49 cash per share. c. Reissued 9,500 shares from treasury for $50 per share. d. Reissued 9,500 shares from treasury for $48 per share. Required: 1. Indicate the account, amount, and direction of the effect on above transaction. (Enter any decreases to Assets, Liabilities and Stockholders' Equity with a minus sign.) Assets Liabilities a. Cash a. b. d. Stockholders' Equity 2 Part 2 of 3 3 points Required information [The following information applies to the questions displayed below.] Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $390,000 of net income and declared no dividends; the following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $54 cash per share. b. Reacquired 24,000 shares at $49 cash per share. c. Reissued 9,500 shares from treasury for $50 per share. eBook d. Reissued 9,500 shares from treasury for $48 per share. Print 2. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) References View transaction list X 1 Record the issuance of 120,000 shares of common stock with a $5 par value for a price of $54 per share. 2 Record the purchase of 24,000 shares of previously issued common stock for a price of $49 per share. 3 Record the re-issuance of 9,500 shares of treasury stock previously purchased for a price of $49 per share and sold for $50 per share. 4 Record the re-issuance of 9,500 shares of treasury stock previously purchased for $49 per share and sold for $48 per share. Note : = journal entry has been entered Record entry Clear entry r value Credit View general journal 3 Part 3 of 3 5 points Required information [The following information applies to the questions displayed below.] Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $390,000 of net income and declared no dividends; the following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $54 cash per share. b. Reacquired 24,000 shares at $49 cash per share. c. Reissued 9,500 shares from treasury for $50 per share. eBook d. Reissued 9,500 shares from treasury for $48 per share. Print 3. Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) References GLOBAL MARINE Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Total Contributed Capital Total Total Stockholders' Equity