Corporate reporting and analysis #6

1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,400 shares of its own common stock at $39 per share on October 11. b. Sold 1,350 treasury shares on November 1 for $45 cash per share. c. Sold all remaining treasury shares on November 25 for $38 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,400 shares of its own common stock at $39 per share on October 11 . b. Sold 1,350 treasury shares on November 1 for $45 cash per share. c. Sold all remaining treasury shares on November 25 for $38 cash per share. Journal entry worksheet Record the purchase of 6,400 shares of its own common stock for $39 cash per share. Note: Enter debits before credits. Journal entry worksheet Record the reissue of 1,350 shares of the treasury stock for $45 cash per share. Note: Enter debits before credits. Journal entry worksheet Record the reissue of the remaining shares of the treasury stock for $38 cash per share. Note: Enter debits before credits. Prepare the stockholders' equity section after the October 11 treasury stock purchase