The following Information pertains to JAE Corp. at January 1, Year 2: Common stock, $11 par,...
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The following Information pertains to JAE Corp. at January 1, Year 2: Common stock, $11 par, 9,000 shares authorized, 1,800 shares issued and outstanding Paid-in capital in excess of par, common stock $19,800 Retained earnings 17,200 70,900 JAE Corp. completed the following transactions during Year 2: 1. Issued 1,150 shares of $11 par common stock for $25 per share. 2. Repurchased 160 shares of its own common stock for $22 per share. 3. Resold 50 shares of treasury stock for $23 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Req A and B Req C Req D Prepare the stockholders' equity section of the balance sheet reflecting these transactions. JAE CORPORATION Balance Sheet (Partial) As of December 31, Year 2 Stockholders' Equity Common stock Paid-in capital in excess of cost, treasury stock Paid-in capital in excess of par, common stock Total paid-in capital Retained earnings Less: Treasury stock Total stockholders' equity $ 12,650 $ 12,650 $ 12,650 The following Information pertains to JAE Corp. at January 1, Year 2: Common stock, $11 par, 9,000 shares authorized, 1,800 shares issued and outstanding Paid-in capital in excess of par, common stock $19,800 Retained earnings 17,200 70,900 JAE Corp. completed the following transactions during Year 2: 1. Issued 1,150 shares of $11 par common stock for $25 per share. 2. Repurchased 160 shares of its own common stock for $22 per share. 3. Resold 50 shares of treasury stock for $23 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Req A and B Req C Req D Prepare the stockholders' equity section of the balance sheet reflecting these transactions. JAE CORPORATION Balance Sheet (Partial) As of December 31, Year 2 Stockholders' Equity Common stock Paid-in capital in excess of cost, treasury stock Paid-in capital in excess of par, common stock Total paid-in capital Retained earnings Less: Treasury stock Total stockholders' equity $ 12,650 $ 12,650 $ 12,650
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