Question
The following information pertains to JAE Corp. at January 1, Year 2: Common stock, $11 par, 12,000 shares authorized, 2,400 shares issued and outstanding
The following information pertains to JAE Corp. at January 1, Year 2: Common stock, $11 par, 12,000 shares authorized, 2,400 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings JAE Corp. completed the following transactions during Year 2: 1. Issued 700 shares of $11 par common stock for $30 per share. 2. Repurchased 210 shares of its own common stock for $27 per share. 3. Resold 50 shares of treasury stock for $28 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 Req C 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 Req C > $26,400 16,200 52,000
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