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Common stock, $10 par, 11,000 shares authorized, 2,200 shares issued and outstanding Paid-in capital in excess of par, common stock. Retained earnings JAE Corp. completed
Common stock, $10 par, 11,000 shares authorized, 2,200 shares issued and outstanding Paid-in capital in excess of par, common stock. Retained earnings JAE Corp. completed the following transactions during Year 2: 1. Issued 950 shares of $10 par common stock for $25 per share. 2. Repurchased 210 shares of its own common stock for $22 per share. 3. Resold 50 shares of treasury stock for $23 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. Complete this question by entering your answers in the tabs below. Req A and B Req C Req D How many shares of common stock were outstanding and issued at the end of the period? a. Outstanding shares at the end of the period b. Issued shares at the end of the period Req A and ReqC > $22,000 17,600 58,600 Complete this question by entering your answers in the tabs below. Req A and B Req C Req D Organize the transactions data in accounts under the accounting equation. (Enter any decreases to account balances + JAE CORPORATION Accounting Equation for the Year 2 Assets Stockholders' Equity Event Liabilities + Paid-in Capital In Paid-in Capital In Cash Common Stock Excess Excess Treasury Stock Retained Earnings Beg. bal. 1. 2. Common Stock + + + + Treasury Stock 3. End. bal. 0+ 0+ 0+ 0 < Req A and B Req D > + + 0+ 0 Req A and B Req C Req D Prepare the stockholders' equity section of the balance sheet reflecting these transa JAE CORPORATION Balance Sheet (Partial) As of December 31, Year 2 Stockholders' Equity Total paid-in capital + Total stockholders' equity < Req C $ 0 $ 0 Req D >
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