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IThe tollowing information appliles to the questions displayed below] Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common
IThe tollowing information appliles to the questions displayed below] Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $350,000 of net income and the following selected transactions occurred in the order given a. Issued 100,000 shares of the common stock at $50 cash per share b. Reacquired 20,000 shares at $45 cash per share c. Reissued 7,500 shares from treasury for $46 per share. d. Reissued 7500 shares from treasury for $44 per share value: 8.00 points 2. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet
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