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The following information pertains to JAE Corporation at January 1, Year 1. Common stock, $9 par, 9,000 shares authorized, 1,800 shares issued and outstanding Paid-in
The following information pertains to JAE Corporation at January 1, Year 1. Common stock, $9 par, 9,000 shares authorized, 1,800 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings JAE Corporation completed the following transactions during Year 1: 1. Issued 900 shares of $9 par common stock for $26 per share. $ 16,200 12,500 2. Repurchased 190 shares of its own common stock for $23 per share. 3. Resold 50 shares of treasury stock for $24 per share. Required 68,100 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? c1. Prepare journal entries for these transactions. c2. Post the journal entries to T-accounts. 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 to B Req C1 Req C2 Req D 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? Outstanding shares at the end of the period a. b. Issued shares at the end of the period ReqC1> Common stock, $9 par, 9,000 shares authorized, 1,800 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings JAE Corporation completed the following transactions during Year 1: 1. Issued 900 shares of $9 par common stock for $26 per share. $ 16,200 12,500 2. Repurchased 190 shares of its own common stock for $23 per share. 3. Resold 50 shares of treasury stock for $24 per share. Required 68,100 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? c1. Prepare journal entries for these transactions. c2. Post the journal entries to T-accounts. 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 to B Req C1 Req C2 Req D Prepare journal entries for these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet A B C Issued 900 shares of $9 par common stock for $26 per share. Record the > Common stock, $9 par, 9,000 shares authorized, 1,800 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings JAE Corporation completed the following transactions during Year 1: 1. Issued 900 shares of $9 par common stock for $26 per share. $ 16,200 2. Repurchased 190 shares of its own common stock for $23 per share. 3. Resold 50 shares of treasury stock for $24 per share. 12,500 68,100 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? c1. Prepare journal entries for these transactions. c2. Post the journal entries to T-accounts. 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 to B Req C1 Req C2 Req D Post the journal entries to T-accounts. Cash (partial) Beginning Balance Common Stock Beginning Balance Ending Balance Ending Balance Paid-in Capital in Excess of Par Value-Common Stock Beginning Balance Treasury Stock Beginning Balance Common stock, $9 par, 9,000 shares authorized, 1,800 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings JAE Corporation completed the following transactions during Year 1: 1. Issued 900 shares of $9 par common stock for $26 per share. $ 16,200 12,500 2. Repurchased 190 shares of its own common stock for $23 per share. 3. Resold 50 shares of treasury stock for $24 per share. Required 68,100 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? c1. Prepare journal entries for these transactions. c2. Post the journal entries to T-accounts. 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 to B Req C1 Req C2 Req Prepare the stockholders' equity section of the balance sheet reflecting these transactions. (Amounts to be deducted should be indicated with minus sign.) Stockholders' equity Total paid-in capital Total stockholders' equity
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