The following information pertains to JAE Corporation at January Year
Common stock, $ par, shares authorized, shares issued and outstanding $
Paidin capital in excess of par, common stock
Retained earnings
JAE Corporation completed the following transactions during Year :
Issued shares of $ par common stock for $ per share.
Repurchased shares of its own common stock for $ per share.
Resold shares of treasury stock for $ 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 Prepare journal entries for these transactions.
c Post the journal entries to Taccounts.
d Prepare the stockholders equity section of the balance sheet reflecting these transactions.
