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Can you please help with 2b and 3c, and please give an explanation how you got the correct answer? Thank you On October 1O, the
Can you please help with 2b and 3c, and please give an explanation how you got the correct answer? Thank you
On October 1O, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 80,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, Retained earnings 800,000 256,000 928,000 common stock Total stockholders equity $1,984,000 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. View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Treasury stock 1 191,400 a. 191,400 Cash 2 b. Cash 46,800 Treasury stock 33,600 Paid-in capital, treasury stock 13,200 Cash 128,800 3 C. Paid-in capital, treasury stock Retained earnings 13,200 33,600 Treasury stock 128,800Step by Step Solution
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