Required information PA11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions (LO 11-2) [The following information applies to the questions displayed below.) Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $400,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: a. Issued 100,000 shares of the common stock at $55 cash per share. b. Reacquired 25,000 shares at $50 cash per share. c. Reissued 10,000 shares from treasury for $51 per share. d. Reissued 10,000 shares from treasury for $49 per share. Record the issuance of 100,000 shares of common stock with a $5 par value for a price of $55 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general Journal 2 > 9 Record the purchase of 25,000 shares of previously issued common stock for a price of $50 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit ht ances Record entry Clear entry View general Journal Record the re-issuance of 10,000 shares of treasury stock previously purchased for a price of $50 per share and sold for $51 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit C Record entry Clear entry View general Journal Record the re-issuance of 10,000 shares of treasury stock previously purchased for $50 per share and sold for $49 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general Journal om Prev 3 Next > Part 2 of 2 3 points GLOBAL MARINE Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: eBook Print References Total Contributed Capital Total Total Stockholders' Equity