On October 10, the stockholders equity section of Sherman Systems appears as follows.
| Common stock$10 par value, 4,975 shares authorized, issued, and outstanding | $ 850,000 |
| Paid-in capital in excess of par value, common stock | 281,000 |
| Retained earnings | 968,000 |
| Total stockholders equity | $ 2,099,000 |
1. Prepare journal entries to record the following transactions for Sherman Systems.
- Purchased 6,300 shares of its own common stock at $38 per share on October 11.
- Sold 1,325 treasury shares on November 1 for $44 cash per share.
- Sold all remaining treasury shares on November 25 for $37 cash per share.
2. Prepare the stockholders' equity section after the October 11 treasury stock purchase.
11 1,30 3.09.990 On October 10, the stockholders' equity section of Sherman Systems appears as follow C**-20 volt. 1.978 mares i maring PS-i aptal spa , SE NON Tetined his TIL SKOR 1 Prepare journal entries to record the following transactions for Sherman Systems Purchased 6.200 shares of its own common stock at 538 per share on October 11 Sold 1325 treasury shares on November for 540 cash per share. Solid all remaining treasury shares on November 25 for $37 cash per share 2. Prepare the stockholders' equity section after the October ti treasury stock purchase. Complete this question by entering your answers in the tabs below. Required. Required2 Prepare journal entries to record the following transactions for Sheron Systems Purchased 6,300 shares of its common abock at 30 perature on October IL h. Sold 1,225 treasury has an Movember 1 for cash per share Goldalraning suy shares on er 25 for 37 cash peshore Show less Journal entry worksheet 2 2 > Record the purchase of 6,200 shares of its own can stock for 138 cash per than Hote: Enter baserede Journal entry worksheet Record the reissue of 1,325 shares of the treasury stock for $44 cash per share. Note: Enter debits before credits. Transaction General Journal b. Debit Credit Record entry Clear entry View general Journal Journal entry worksheet Record the reissue of the remaining shares of the treasury stock for $37 cash per share. Note: Enter debits before credits. Transaction General Journal C Debit Credit Record entry Clear entry View general Journal 850.000 281,000 963.000 $ 2,099.000 On October 10, the stockholders' equity section of Sherman Systems appears as follows Paid-in capital in excess of par valt on stock Common stock 810 par voice, 1.975 shares authorized bed and outstanding Betained earnings Total stockholders' equity 1. Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 6,300 shares of its own common stock at $38 per share on October 11 b. Sold 1,325 treasury shares on November 1 for $44 cash per share. c. Sold all remaining treasury shares on November 25 for $37 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 the stockholders' equity section after the October 11 treasury stock purchase Revised Stockholders' Equity Section of Balance Sheet Aher October 11 Total Contibuted capital Total Total stockholders equity
