The following information pertains to JAE Corporation at January 1, Year 1: Common stock, $11 par, 14,000 shares authorized, 2,800 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 1,150 shares of $11 par common stock for $30 per share. 2. Repurchased 160 shares of its own common stock for $27 per share. 3. Resold 50 shares of treasury stock for $28 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? c. Organize the transactions data in accounts under the accounting equation. 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 and B $30,800 12,100 51,200 Req C Req D How many shares of common stock were outstanding and issued at the end of the period? a. Outstanding shares at the end of the period b. Issued shares at the end of the period < Req A and B Req C >
The following information pertains to JAE Corporation at January 1, Year 1: Common stock, $11 par, 14,000 shares authorized, 2,800 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 1,150 shares of $11 par common stock for $30 per share. 2. Repurchased 160 shares of its own common stock for $27 per share. 3. Resold 50 shares of treasury stock for $28 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? c. Organize the transactions data in accounts under the accounting equation. 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 and B $30,800 12,100 51,200 Req C Req D How many shares of common stock were outstanding and issued at the end of the period? a. Outstanding shares at the end of the period b. Issued shares at the end of the period < Req A and B Req C >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Req A and B only
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int
Exercise 11-13A (Algo) Recording and reporting treasury stock transactions LO 11-5
The following information pertains to JAE Corporation at January 1, Year 1:
Common stock, $11 par, 14,000 shares authorized, 2,800
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 1,150 shares of $11 par common stock for $30 per share.
2. Repurchased 160 shares of its own common stock for $27 per share.
3. Resold 50 shares of treasury stock for $28 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?
c. Organize the transactions data in accounts under the accounting equation.
d. Prepare the stockholders' equity section of the balance sheet reflecting these transactions.
$30,800
12,100
51,200
Complete this question by entering your answers in the tabs below.
Req A and B
Req C
Req D
How many shares of common stock were outstanding and issued at the end of the period?
a. Outstanding shares at the end of the period
b. Issued shares at the end of the period
< Req A and B
Req C >
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