11-13A Recorsing and reporting treasury stock transactions

Exercise 11-13A (Algo) Recording and reporting treasury stock transactions LO 11-5 The following information pertains to JAE Corporation at January 1, Year 1 : JAE Corporation completed the following transactions during Year 1: 1. Issued 1,100 shares of $11 par common stock for $26 per share. 2. Repurchased 200 shares of its own common stock for $23 per share. 3. Resold 50 shares of treasury stock for $24 per share. Required: a. How many shares of common stock were outstanding at the end of the period? b. How many shares of common stock had been issued at the end of the period? c. Organize the transactions data in accounts under the accounting equation. d. Prepare the stockholders equity section of the balance sheet reflecting these transactions. Required: a. How many shares of common stock were outstanding at the end of the period? b. How many shares of common stock had been issued at the end of the period? c. Organize the transactions data in accounts under the accounting equation. d. Prepare the stockholders' equity section of the balance sheet reflecting these transaction Complete this question by entering your answers in the tabs below. How many shares of common stock were outstanding and issued at the end of the period? Organize the transactions data in accounts under the accounting equation. Note: Enter any decreases to account balances with a minus sign. Not all cells require input. Prepare the stockholders' equity section of the balance sheet reflecting these trans Stockholders' Equity Common stock Dividends Paid-in capital in excess of cost, treasury stock Paid-in capital in excess of par, common stock Preferred stock Prepare the stockholders' equity section of the balance s JAE CORPORATION Balance Sheet (Partial) As of December 31 Stockholders' Equity Paid-in capital in excess of cost, treasury stock Paid-in capital in excess of par, common stock Preferred stock Retained earnings Revenues