Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par valu

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Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $460,000 of net income and declared no dividends; the following selected transactions occurred in the order given:
2. Prepare journal entries to record each transaction.
Journal entry worksheet 1 2 Transaction 3 Record the issuance of 100,000 shares of common stock with a $5 par value for a price of $61 per share. Note: Enter debits before credits. Record entry 4 General Journal Clear entry Debit Credit View general Journal

Book vind rences Journal entry worksheet 1 3 Record the purchase of 31,000 shares of previously issued common stock for a price of $56 per share. Note: Enter debits before credits. Transaction b Record entry 4 General Journal Clear entry Debit Credit View general journal >

Journal entry worksheet < 1 2 & Record the re-issuance of 13,000 shares of treasury stock previously purchased for a price of $56 per share and sold for $57 per share. Note: Enter debits before credits. Transaction C 4 Record entry General Journal Clear entry Dobit Credit View general journal

Journal entry worksheet < 1 2 Record the re-issuance of 13,000 shares of treasury stock previously purchased for $56 per share and sold for $55 per share.. 3 Note: Enter debits before credits. Transaction d Record entry General Journal Clear entry Debit Credit View general Journal B ot-5 ⠀ Next >

. colui care au contrat c. Reissued 13,000 shares from treasury for $57 per sha d. Reissued 13,000 shares from treasury for $55 per sha 3. Prepare the stockholders' equity section of the balance shee minus sign.) Contributed Capital: GLOBAL MARINE Balance Sheet (Partial) At December 31 Stockholders' Equity Total Contributed Capital Total Total Stockholders' Equity $ < Prev 0 0 0