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please and thank you On October 10, the stockholders' equlty of Sherman Systems appears as follows. Common stock-$10 par value, 75,000 shares authorized, issued, and
please and thank you On October 10, the stockholders' equlty of Sherman Systems appears as follows. Common stock-$10 par value, 75,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 758,899 231,089 888,888 $ 1,869,000 1. Prepare Journal entries to record the following transactions for Sherman Systems. a. Purchased 5,300 shares of its own common stock at $28 per share on October 11. b. Sold 1,075 treasury shares on November 1 for $34 cash per share. c. Sold all remaining treasury shares on November 25 for $23 cash per share. 2 Prepare the stockholders' equity section after the October 11 treasury stock purchase. Journal entry worksheet Record the purchase of 5,300 shares of its own common stock for $28 cash per share. Enter debits edit Transaction General Joumal Debit Credit 3 Record entry Chucky View general journal Required 2 > Journal entry worksheet 3 Im > Record the reissue of 1,075 shares of the treasury stock for $34 cash per share. NALE. Enter debits before credits Transaction General Journal Debit Credit Record entry Clear only View general Required 2 > Journal entry worksheet Record the reissue of the remaining shares of the treasury stock for $23 cash per share, Note: Enter achits before credits Transaction General Journal Debit Credit c Record entry Ciononty View general journal Required 2 > 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 Total contributed capital Total Total stockholders' equity
please and thank you
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