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Exercise 13-13 (Algo) Recording and reporting treasury stock $ 920,000 316,000 1,024,000 $ 2,260,000 DOK int On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value, 5,500 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 1. Prepare journal entries to record the following transactions for Sherman Systems, a. Purchased 7,000 shares of its own common stock at $45 per share on October 11. b. Sold 1,500 treasury shares on November 1 for $51 cash per share. c. Sold all remaining treasury shares on November 25 for $44 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. int Complete this question by entering your answers in the tabs below. Required: Required 2 Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 7,000 shares of its own common stock at $45 per share on October 11. b. Sold 1,500 treasury shares on November 1 for $51 cash per share. c. Sold all remaining treasury shares on November 25 for $44 cash per share. Show less View transaction list On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value, 5,500 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 920,000 316,000 1,024,000 $ 2,260,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,000 shares of its own common stock at $45 per share on October 11. b. Sold 1,500 treasury shares on November 1 for $51 cash per share. c. Sold all remaining treasury shares on November 25 for $44 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. 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 0 Total contributed capital 0 Total $ 0 Total stockholders' equity

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