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Exercise 11-13A Recording and reporting treasury stock transactions LO 11-5 The following information pertains to JAE Corp. at January 1, Year 1: Common stock, $10 par, 13,000 shares authorized, 2,600 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $26,000 12,800 60,600 JAE Corp. completed the following transactions during Year 1: 1. Issued 850 shares of $10 par common stock for $27 per share. 2. Repurchased 200 shares of its own common stock for $24 per share. 3. Resold 50 shares of treasu stock for $25 per share. Required a. How many shares of common stock were outstanding at the end of the period? b. How many shares of common stock had been issued at the end of the period? c. Organize the transactions data in accounts under the accounting equation. d. Prepare the stockholders' equity section of the balance sheet reflecting these transactions. Complete this question by entering your answers in the tabs below. Req A and B Reqc Req D How many shares of common stock were outstanding and issued at the end of the period? a. Outstanding shares at the end of the period b. Issued shares at the end of the period Req A and B Reg C Reg D Organize the transactions data in accounts under the accounting equation. (Enter any decreases to account balances with a minus sign.) JAE CORPORATION Accounting Equation for the Year 1 Stockholders' Equity Assets Event = Liabilities + Cash Common Stock + Paid-in Capital In Excess Common Stock + Paid-in Capital In Excess Treasury Stock Treasury Stock + Retained Earnings + + + + Beg. bal. 1. + + + 2. = + + + + + + + 3. + + + End. bal. + + + Prepare the stockholders' equity section of the balance sheet reflecting these transactions. JAE CORPORATION Balance Sheets (Partial) As of December 31 Stockholders' Equity Total paid-in capital Total stockholders' equity