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The following information pertains to JAE Corp. at January 1, Year 1: Corrmon stock, $8 par, 8,000 shares authorized, 1,600 shares issued and outstanding Paid-in
The following information pertains to JAE Corp. at January 1, Year 1: Corrmon stock, $8 par, 8,000 shares authorized, 1,600 shares issued and outstanding Paid-in capital in excess of par, corrmon stock Retained earnings $12,800 16,300 73,400 JAE Corp. completed the following transactions during Year 1: 1. Issued 1,000 shares of $8 par common stock for $29 per share. 2. Repurchased 220 shares of its own common stock for $26 per share. 3. Resold 50 shares of treasury stock for $27 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. 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. Reg A and B Reqc ReqD 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 Reqc Req D Organize the transactions data in accounts under the accounting equation. (Enter any decreases to account balances with a minu 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. + + + + + + + + End. bal. + + + Req A and B ReqC Reg D 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
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