Exercise 11-12A (Algo) Treasury stock transactions LO 11-5 Elroy Corporation repurchased 1,100 shares of its own stock for $55 per share. The stock has a par of $10 per share. A month later, Elroy resold 275 shares of the treasury stock for $63 per share. Required What is the balance of the Treasury Stock account after these transactions? Balance of treasury stock 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: Common stock, $10 par, 10,000 shares authorized, 2,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings JAE Corporation completed the following transactions during Year 1: 1. Issued 950 shares of $10 par common stock for $27 per share. $20,000 17,400 61,300 2. Repurchased 190 shares of its own common stock for $24 per share. 3. Resold 50 shares of treasury stock for $25 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 Red C Reg 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 B Req C > Req A and B. Req C Req D 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. JAE CORPORATION Accounting Equation for the Year 1 Assets Stockholders' Equity Event Cash. Liabilities Common Stock Paid-in Capital In Excess Common Stock Paid-in Capital In Excess Treasury Retained Stock Treasury Stock Earnings Beginning balance 1. + 2. 3. + Ending balance Complete this question by entering your answers in the tabs below. Req A and B Req C Req D Prepare the stockholders' equity section of the balance sheet reflecting these transactions. Stockholders' Equity JAE CORPORATION Balance Sheet (Partial) As of December 31 Total paid-in capital Total stockholders' equity Exercise 11-14A (Algo) Effect of cash dividends on financial statements LO 11-6 On May 1, Year 1, Love Corporation declared a $61,000 cash dividend to be paid on May 31 to shareholders of record on May 15. Required: Record the events occurring on May 1, May 15, and May 31 in a horizontal statements model. Note: Enter amounts to be deducted and cash outflows with a minus sign. In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Not all cells require input. LOVE CORPORATION Horizontal Statements Model Date Assets Liabilities May 1 01= May 15 May 311 = Balance Sheet Income Statement Common Retained Revenue Stock Earnings Expense Net Income Statement of Cash Flow 0+ 0 0= 0 0 0+ 0 0= o + 0+ 0 0= 0 FA Exercise 11-15A (Algo) Accounting for stock dividends LO 11-7 Beacon Corporation issued a 3 percent stock dividend on 26,000 shares of its $8 par common stock. At the time of the dividend, the market value of the stock was $26 per share. Required: a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount of the stock dividend. Stock dividend Required A Required B > Exercise 11-15A (Algo) Accounting for stock dividends LO 11-7 Beacon Corporation issued a 3 percent stock dividend on 26,000 shares of its $8 par common stock. At the time of the dividend, the market value of the stock was $26 per share. Required: a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Show the effects of the stock dividend on the financial statements using a horizontal statements model. Note: Enter amounts to be deducted and cash outflows with a minus sign. In the Statement of Cash Flows column, indicate whether the item is an op activity (IA), or financing activity (PA). Not all cells require input. BEACON CORPORATION Horizontal Statements Model Balance Sheet Income Statement Assets Liabilities 4 Stockholders' Equity Cash Common Stock Paid In Capital in Retained Earnings Revenue Expense Net Income Statement of Cash Flow Excess