The following information pertains to JAE Corporation at January 1, Year 1.

Common stock, $12 par, 10,000 shares authorized, 2,000 shares issued and outstanding	$ 24,000
Paid-in capital in excess of par, common stock	13,200
Retained earnings	56,200

JAE Corporation completed the following transactions during Year 1:

1. Issued 1,100 shares of $12 par common stock for $29 per share.
2. Repurchased 150 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?

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. Reg A to B Req c1 Reg 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? a. Outstanding shares at the end of the period Issued shares at the end of the period b. Reg A to B Reg C1 Reg C2 Reg D Prepare journal entries for these transactions. (If no entry is required for a transaction/event, select "No journal first account field.) View transaction list Journal entry worksheet Issued 1,100 shares of $12 par common stock for $29 per share. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal Reg A to B Req C1 Reg C2 Reg D Prepare journal entries for these transactions. (If no entry is required for a transaction/event, select first account field.) View transaction list Journal entry worksheet Repurchased 150 shares of its own common stock for $26 per share. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Transaction 2 Record entry Clear entry View general journal Reg A to B Reg C1 Reg C2 Reg D Prepare journal entries for these transactions. (If no entry is required for a transaction/event, select "N first account field.) View transaction list Journal entry worksheet Req A to B Reg C1 Reg C2 ReqD Prepare the stockholders' equity section of the balance sheet reflecting these transactions. (Amounts to be indicated with minus sign.) Stockholders' equity Total paid-in capital Total stockholders' equity