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On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 91,000 shares authorized, issued, and outstanding Paid-in capital in

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On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 91,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 910,000 311,000 1,016,000 $2,237,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6.500 shares of its own common stock at $44 per share on October 11. b. Sold 1,475 treasury shares on November 1 for $50 cash per share. c. Sold all remaining treasury shares on November 25 for $39 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. 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 Common stock, $10 par $ 910,000 Pald.in capital in excess of par value, common stock 311,000 Total contributed capital 1,221,000 Retained earnings 997,7253 Total 1A Retained earnings Total stockholders' equity 1,016,000 $2,237,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,900 shares of its own common stock at $44 per share on October 11. b. Sold 1,475 treasury shares on November 1 for $50 cash per share. c. Sold all remaining treasury shares on November 25 for $39 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. 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 Common stock, $10 par $ 910,000 Pald-in capital in excess of par value, common stock 311,000 Total contributed capital 1,221,000 Retained earings 997.7253 Total 2,218,725 Loss: Cost of treasury stock Total stockholders' equity $ 2,218,725

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