actg question

On October ID, the stockholclersr equity of Sherman Systems appears as follows. Common stock$10 par value, 80,000 shares authorized, issued, and outstanding $ 800,000 Paidin capital in excess of par value, common stock 258, 000 Retained earnings 028, 000 Total stockholders' equity :5 1,084, 000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock at $33 per share on October 11. b. Sold 1,200 treasury shares on November 1 for $39 cash per share. c. Sold all remaining treasury shares on November 25 for $28 cash per share. 2. Prepare the stockholders equity section after the October 11 treasury stock purchase. Complete this question by entel'ilg your answers in the labs below. Required 1 Required 2 Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock at $33 per share on October 11. b. Sold 1,200 treasury shares on November 1 for $39 cash per share. c. Sold all remaining treasury shares on November 25 for $28 cash per share. Show View transaction list Journal entry worksheet 2 3 Record the purchase of 5,800 shares of its own common stock for $33 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journalRequired 1 Required 2 Prepare the stockholders' equity section after the October 11 treasury stock purchase. Revised Equity Section of Balance Sheet After October 11 Total contributed capital Total Total stockholders' equity 0