Exercise 11-13A (Algo) Recording and reporting treasury stock transactions LO 11-5 The following information pertains to JAE Corp. at January 1, Year 1: Common stock, $10 par, 14,000 shares authorized, 2,800 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $28,000 17,500 66,500 JAE Corp. completed the following transactions during Year 1: 1. Issued 850 shares of $10 par common stock for $29 per share. 2. Repurchased 150 shares of its own common stock for $26 per share. 3. Resold 50 shares of treasury stock for $27 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 Reqc ReqD 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 3,550 3,650 Req A and B Reqc > Req A and B ReqC Reg D Organize the transactions data in accounts under the accounting equation. (Enter any decreases to account balances with a minus sign. Not all cells re input.) JAE CORPORATION Accounting Equation for the Year 1 Stockholders' Equity Assets Event Liabilities + Cash Common Stock Paid-in Capital In Excess Common Stock Paid-in Capital In Excess Treasury Stock Treasury Stock Retained Earnings + + + Beg. bal. 1. + 16,150 + + 2. + + + 24,650] = (3,900) = 1,350 22,100 8,500+ (3,900) + 1,300 + 5,900 + 3. + + 50 + End, bal. 0+ 16,150 + 50 0 + 0 Req A and B ReqC ReqD Prepare the stockholders' equity section of the balance sheet reflecting these transactions. JAE CORPORATION Balance Sheet (Partial) As of December 31 Stockholders' Equity Common stock Paid-in capital in excess of par, common stock Paid-in capital in excess of cost, treasury stock Total paid-in capital $ 0 Total stockholders' equity $ CA 0