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help On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value, 4,825 shares authorized, issued, and outhtanding Paid-in
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On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-\$10 par value, 4,825 shares authorized, issued, and outhtanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,100 shares of its own common stock at $36 per share on October 11 . b. Sold 1,275 treasury shares on November 1 for $42 cash per share. c. Sold all remaining treasury shares on November 25 for $35 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 6,100 shares of its own common stock at $36 per share on October 11. b. Sold 1,275 treasury shares on November 1 for $42 cash per share. c. Sold all remaining treasury shares on November 25 for $35 cash per share. Prepare the stockholders' equity section after the October 11 treasury stock purchase. Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section after the October 11 treasury stock purchase. b. Sold 1,275 treasury shares on November 1 for $42 cash per share. c. Sold all remaining treasury shares on November 25 for $35 cash per share. Journal entry worksheet Record the purchase of 6,100 shares of its own common stock for $36 cash per share. Note: Enter debits before credits Step by Step Solution
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