50.1K

Verified Solution

Link Copied!

Thank you for your help!!!

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

Common stock, $9 par, 11,000 shares authorized, 2,200 shares issued and outstanding	$	19,800
Paid-in capital in excess of par, common stock		16,100
Retained earnings		54,800

JAE Corp. completed the following transactions during Year 1:

1. Issued 750 shares of $9 par common stock for $28 per share.
2. Repurchased 190 shares of its own common stock for $25 per share.
3. Resold 50 shares of treasury stock for $26 per share.

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.

I have attatched the charts below

Req A and B Reqc ReqD Prepare the stockholders' equity section of the balance sheet reflecting thes JAE CORPORATION Balance Sheets (Partial) As of December 31 Stockholders' Equity Total paid-in capital Total stockholders' equity Req A and B Reqc Reg D Organize the transactions data in accounts under the accounting equation. (Enter any decreases to account balanc Assets JAE CORPORATION Accounting Equation for the Year 1 Stockholders' Equity Paid in Pald-in Common Capital In Capital In Excess Excess Stock Common Treasury Stock Stock Event Liabilities Cash Treasury Stock Retained Earnings 11 Beg, bal 1. 2. 3. ++++ + + + + End, bal

Answer & Explanation Solved by verified expert

See Answer