- Exercise 11 13 Static Recording And Reporting Treasury Stock Transactions Lo P3 On October 10 The Stockholders Equit 1 (31.63 KiB) Viewed 40 times
- Exercise 11 13 Static Recording And Reporting Treasury Stock Transactions Lo P3 On October 10 The Stockholders Equit 2 (39.87 KiB) Viewed 40 times
- Exercise 11 13 Static Recording And Reporting Treasury Stock Transactions Lo P3 On October 10 The Stockholders Equit 3 (38.98 KiB) Viewed 40 times
Required 1 Required 2 Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,000 shares of its own common stock at $25 per share on October 11. b. Sold 1,000 treasury shares on November 1 for $31 cash per share.. c. Sold all remaining treasury shares on November 25 for $24 cash per share. i View transaction list No Transaction 1 2 3 b. C. View journal entry worksheet Treasury stock Cash Cash General Journal Treasury stock Paid-in capital, treasury stock Cash Paid-in capital, treasury stock Retained earnings Treasury stock < Required 1 Required 2 > Debit 125,000 31,000 Credit 125,000 25,000 6,000
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the stockholders' equity section after the October 11 treasury stock purchase. Revised Stockholders' Equity Section of Balance Sheet After October 11 Common stock, $10 par $ Paid-in capital in excess of par value, common stock Total contributed capital Retained earnings Total Less: Cost of treasury stock Total stockholders' equity < Required 1 $ 720,000 216,000 936,000 864,000 1,800,000 125,000 1,675,000 Required 2