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Please complete the charts to the question below? The following information pertains to JAE Corp. at January 1, Year 2: AE Corp. completed the following

Please complete the charts to the question below?

The following information pertains to JAE Corp. at January 1, Year 2:

image text in transcribed

AE Corp. completed the following transactions during Year 2:

  1. Issued 1,150 shares of $10 par common stock for $26 per share.
  2. Repurchased 160 shares of its own common stock for $23 per share.
  3. Resold 50 shares of treasury stock for $24 per share.

Required

  1. How many shares of common stock were outstanding at the end of the period?
  2. How many shares of common stock had been issued at the end of the period?
  3. Organize the transactions data in accounts under the accounting equation.
  4. Prepare the stockholders equity section of the balance sheet reflecting these transactions.

image text in transcribed

image text in transcribed

image text in transcribed

Common stock, $10 par, 13,000 shares authorized, 2,600 shares issued and outstanding Paid-in capital in excess of par, common stock $26,000 16,700 68,100 How many shares of common stock were outstanding and issued at the end of the period? Organize the transactions data in accounts under the accounting equation. (Enter any decreases to account balances with a minus sign.) \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{14}{|c|}{ JAE CORPORATION } \\ \hline \multicolumn{14}{|c|}{ Accounting Equation for the Year 2} \\ \hline \multirow[b]{2}{*}{ Event } & \multirow{2}{*}{\begin{tabular}{l} Assets \\ Cash \end{tabular}} & \multirow[b]{2}{*}{=} & \multirow{2}{*}{\multicolumn{2}{|c|}{ Liabilities }} & \multicolumn{9}{|c|}{ Stockholders' Equity } \\ \hline & & & & & \begin{tabular}{c} Common \\ Stock \end{tabular} & + & \begin{tabular}{l} Paid-in Capital \\ In Excess \\ Common Stock \end{tabular} & + & \begin{tabular}{l} Paid-in Capital \\ In Excess \\ Treasury Stock \end{tabular} & - & \begin{tabular}{c} Treasury \\ Stock \end{tabular} & + & \begin{tabular}{l} Retained \\ Earnings \end{tabular} \\ \hline Beg. bal. & & = & & + & & + & & + & & - & & + & \\ \hline 1. & & = & & + & & + & & + & & - & & + & \\ \hline 2. & & = & & + & & + & & + & & - & & + & \\ \hline 3. & & = & & + & & + & & + & & - & & + & \\ \hline End. bal. & 0 & = & 0 & + & 0 & + & 0 & + & 0 & - & 0 & + & 0 \\ \hline \end{tabular} Prepare the stockholders' equity section of the balance sheet reflecting these transactions

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