OPTIONS FOR REQUIREMENT 2:

Data Table 1 Stockholders' Equity Paid-In Capital: Common Stock-$5 Par Value; 1,300 shares S750 2,250 3,000 50,000 $ 53,000 authorized, 150 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings Total Stockholders' Equity G Requirements 1 1. Journalize the purchase of the treasury stock 2. Prepare the stockholders' equity section of the balance sheet at December 31 2018. Assume the balance in retained earnings is unchanged from November 30 3. How many shares of common stock are outstanding after the purchase of treasury stock? Mountain Amusements Corporation had the following stockholders' equity on November 30 EE (Click the icon to view the stockholders' equity.) On December 30, Mountain purchased 100 shares of treasury stock at $9 per share. Read the requirements Requirement 1. Journalize the purchase of the treasury stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Debit Credit Accounts and Explanation Dec. 30 Cash Common Stock $5 Par Value Common Stock Dividend Distributable Dividends Payable-Common Paid-In Capital from Treasury Stock Transactions Paid-In Capital in Excess of ParCommon Retained Earnings Treasury Stock Common Requirement 2. December 31, 2018. Assume the balance in retained earnings is unchanged from November 30. Requirement 2. Prepare the stockholders' equity section of the balance sheet at December 31, 2018. Assume the balance in retained earnings is unchanged from November 30. Mountain Amusements Corporation Balance Sheet (Partial) December 31 Stockholders' Equity Paid-In Capital: Total Paid-In Capital Total Stockholders' Equity Requirement 3. How many shares of common stock are outstanding after the purchase of treasury stock? shares are outstanding. December 31 Stockholders' Equity Paid-In Capital: 150 shares authorized, 1,300 shares authorized 50 shares issued and outstanding 150 shares issued and outstanding 150 shares issued, 50 shares outstanding Common Stock -$5 Par Value; Tota Paid-In Capitalrom Treasury Stock Transactions Requ Paid-In Capital in Excess of Par-Common ling after the purc Retained Earnings Treasury Stock-Common; 100 shares at cost Treasury Stock-Common; 100 shares at par value Choose trom any ust or enter any numger in tne inout ieias and then continu