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The following information pertains to JAE Corporation at January 1, Year 1. Common stock, $10 par, 13, 000 shares authorized, 2,600 shares issued and outstanding

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The following information pertains to JAE Corporation at January 1, Year 1. Common stock, $10 par, 13, 000 shares authorized, 2,600 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $ 26,000 14,300 61,500 JAE Corporation completed the following transactions during Year 1: 1. Issued 950 shares of $10 par common stock for $28 per share. 2. Repurchased 230 shares of its own common stock for $25 per share. 3. Resold 50 shares of treasury stock for $26 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? 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 ci Req c2 Reg 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 Issued shares at the end of the period a. b. Rec C1 > plete this question by entering your answers in the tabs below. Req A to B Reg C1 Req c2 Reg D Post the journal entries to T-accounts. Cash (partial) Common Stock Beginning Balance Beginning Balance Ending Balance Ending Balance Paid-in Capital in Excess of Par Value-Common Stock Beginning Balance Treasury Stock Beginning Balance Ending Balance Ending Balance Pald-in Capital in Excess of Cost of Treasury Stock Beginning Balance Ending Balance Complete this question by entering your answers in the tabs below. Reg A to B Req c1 Req C2 Req D Prepare the stockholders' equity section of the balance sheet reflecting these transactions. (Amounts to be dec be indicated with minus sign.) Stockholders' equity Total paid-in capital Total stockholders' equity 0 Issued 950 shares of $10 par common stock for $28 per share. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit + Record entry Clear entry View general journal Journal entry worksheet Resold 50 shares of treasury stock for $26 per share. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal

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