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The following information pertains to JAE Corp. at January 1, 2018: Common stock, $9 par, 15,000 shares authorized, 3,000 shares issued and outstanding Paid-in capital
The following information pertains to JAE Corp. at January 1, 2018: Common stock, $9 par, 15,000 shares authorized, 3,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $27,000 15,800 51,100 JAE Corp. completed the following transactions during 2018: 1. Issued 900 shares of $9 par common stock for $30 per share. 2. Repurchased 160 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. Include the number of shares authorized, issued, and outstanding in the description of the common stock. Complete this question by entering your answers in the tabs below. Req A and B Reqc 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 2018 Stockholders' Equity Assets Event Liabilities + Common = Liabilities Paid-in Capital Cash + In Excess + Paid-in Capital In Excess Treasury Stock Stock Treasury Stock Retained Earnings Common Stock Beg. bal. 1. 2. + 3. End. bal. 0- Reg A and B Reg D >
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