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The following information pertains to JAE Corporation at January 1 , Year 1. JAE Corporation completed the following transactions during Year 1: 1. Issued 900

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The following information pertains to JAE Corporation at January 1 , Year 1. JAE Corporation completed the following transactions during Year 1: 1. Issued 900 shares of $8 par common stock for $31 per share. 2. Repurchased 160 shares of its own common stock for $28 per share. 3. Resold 50 shares of treasury stock for $29 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 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? Journal entry worksheet Issued 900 shares of $8 par common stock for $31 per share. Record the transaction. Note: Enter debits before credits. Journal entry worksheet Repurchased 160 shares of its own common stock for $28 per share. Record the transaction. Note: Enter debits before credits: Journal entry worksheet Resold 50 shares of treasury stock for $29 per share. Record the transaction. Note: Enter debits before credits. Post the journal entries to T-accounts. Prepare the stockholders' equity section of the balance sheet reflecting these transactions. (Amounts to be deducted should be indicated with minus sign.)

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