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I need all three jorunals, thank you On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 79,000 shares
I need all three jorunals, thank you
On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 79,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 790,000 251,000 920,000 $1,961,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,700 shares of its own common stock at $32 per share on October 11. b. Sold 1,175 treasury shares on November 1 for $38 cash per share. c. Sold all remaining treasury shares on November 25 for $27 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. Required 1 Required 2 Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,700 shares of its own common stock at $32 per share on October 11. b. Sold 1.175 treasury shares on November 1 for $38 cash per share. c. Sold all remaining treasury shares on November 25 for $27 cash per share. Show less View transaction list Journal entry worksheet 2 3 Record the purchase of 5,700 shares of its own common stock for $32 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Required 1 Required 2 Prepare the stockholders' equity section after the October 11 treasury stock purchase. Revised Equity Section of Balance Sheet After October 11 Total contributed capital Total Total stockholders' equity The following information is from Amos Company for the year ended December 31, 2019. a. Retained earnings at December 31, 2018 (before discovery of error), $854,000 b. Cash dividends declared and paid during the year, $23,000. c. Two years ago, it forgot to record depreciation expense of $35,600 (net of tax benefit). d. The company earned $208,000 in net income this year. Prepare a statement of retained earnings for Amos Company. (Amounts to be deducted should be indicated with a minus sign.) AMOS COMPANY Statement of Retained Earnings For Year Ended December 31, 2019 Prior period adjustmentStep by Step Solution
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