The following information pertains to JAE Corp. at January 1, Year 2: Common stock, $11 par, 13,000 shares authorized, 2

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The Following Information Pertains To Jae Corp At January 1 Year 2 Common Stock 11 Par 13 000 Shares Authorized 2 1 (89.74 KiB) Viewed 91 times

The following information pertains to JAE Corp. at January 1, Year 2: Common stock, $11 par, 13,000 shares authorized, 2,600 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $28,600 15,500 61,300 JAE Corp. completed the following transactions during Year 2: 1. Issued 1,050 shares of $11 par common stock for $28 per share. 2. Repurchased 200 shares of its own common stock for $25 per share. 3. Resold 50 shares of treasury stock for $26 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 Reqc ReqD 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
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 Reqc Req D Organize the transactions data in accounts under the accounting equation. (Enter any decreases to account balances with a minus sign.) JAE CORPORATION Accounting Equation for the Year 2 Stockholders' Equity Assets Event Cash = Liabilities + Common Stock Paid-in Capital In Excess Common Stock + Paid-in Capital In Excess Treasury Stock Treasury Stock + Retained Earnings Beg. bal. + + 1. = 1 + + + + 2. = + + + + |- + + + 3. End. bal. 0 = 0+ 0 + 0 + 0+ 0 + 0 0 + 0 < Req A and B ReqD>
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 Reqc Req D Prepare the stockholders' equity section of the balance sheet reflecting these transactions. JAE CORPORATION Balance Sheet (Partial) As of December 31, Year 2 Stockholders' Equity Total paid-in capital EITTI Total stockholders' equity < Reqc Reg D