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I need help with revising equity after treasury purchase Common stock-$10 par value, 76,000 shares authorized, issued, and outstanding $ 760,000 Paid-in capital in excess

I need help with revising equity after treasury purchase

Common stock-$10 par value, 76,000 shares authorized, issued, and outstanding $

760,000 Paid-in capital in excess of par value,

common stock 236,000

Retained earnings 896,000

Total stockholders' equity $ 1,892,000

1. Prepare journal entries to record the following transactions for Sherman Systems. Purchased 5,400 shares of its own common stock at $29 per share on October 11.

Sold 1,100 treasury shares on November 1 for $35 cash per share.

Sold all remaining treasury shares on November 25 for $24 cash per share.

2. Prepare the stockholders' equity section after the October 11 treasury stock purchase

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27 minutes ago

Journal entries are as follows:

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27 minutes ago

a. Treasury stock 156,600 Cash 156,600

b. Cash 38,500 Treasury stock 31,900 Paid-in capital, treasury stock 6,600 3

c. Cash 103,200 Paid-in capital, treasury stock 6,600 Retained earnings 14,900 Treasury stock 124,700

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