help fill in On October 10, the stockholders' equity section of Sherman Systems appears as follows.Common stock-$18 par value, 87,000 shares authorized, issued, and outstandingPaid-in capital in excess of par value, common stockRetained earningsTotal stockholders' equity1. Prepare Journal entries to record the following transactions for Sherman Systems.a. Purchased 6,500 shares of its own common stock at $40 per share on October 11.b. Sold 1,375 treasury shares on November 1 for $46 cash per share.c. Sold all remaining treasury shares on November 25 for $39 cash per share.2. Prepare the stockholders' equity section after the October 11 treasury stock purchase.$ 870,000291,000984,000$ 2,145,000 Journal entry worksheet1Record the purchase of 6,500 shares of its own common stock for $40 cashper share.Transaction:aNote: Enter debles befornicrediti.Record actry< 122Journal entry worksheetTransactionG33Note: ter gebits before creditsRecord entryGeneral JoumalClear GetryRecord the reissue of the remaining shares of the treasury stock for $39 cashper share.General JoumalDebitClear entryCreditDebitView general JournalRequired 2 >CreditView general JournalRequired 2 >>>Journal entry worksheet<112Record the reissue of 1,375 shares of the treasury stock for $46 cash pershare.Note: Enter debits defere creditsTransactionb.Record entry3General JouralRequired 1 Required 2Clear entryDebit< Required 1CreditView general journalComplete this question by entering your answers in the tabs below.Required 2 >Prepare the stockholders equity section after the October 11 treasury stock purcRevised Stockholders Equity Section of Balance Sheet After October 11Common stock. $10 parPaid-in capital in excess of par value, common stockTotal contributed capitalRetained earningsTotalLess: Cost of treasury stockTotal stockholders equity$ہےOU>0

Stockholder's Equity includes the amount contributed by shareholders in the form of common stock,…

On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$18 par value, 87,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,500 shares of its own common stock at $40 per share on October 11. b. Sold 1,375 treasury shares on November 1 for $46 cash per share. c. Sold all remaining treasury shares on November 25 for $39 cash per share. 250 $350 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. $ 870,000 291,000 984,000 $ 2,145,000