Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sorry for the long post, just need some help :) t

Sorry for the long post, just need some help :) The following information pertains...

60.1K

Verified Solution

Question

Accounting

imageimageimageimageimage

Sorry for the long post, just need some help :)

The following information pertains to JAE Corp. at January 1, Year 1: 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 16,900 73,600 JAE Corp. completed the following transactions during Year 1: 1. Issued 1,100 shares of $11 par common stock for $26 per share. 2. Repurchased 180 shares of its own common stock for $23 per share. 3. Resold 50 shares of treasury stock for $24 per share. Required a. How many shares of common stock were outstanding at the end of the period? Outstanding shares at the end of the period b. How many shares of common stock had been issued at the end of the period? Issued shares at the end of the period Journal entry worksheet 2 1 Issued 1,100 shares of $11 par common stock for $26 per share. Note: Enter debits before credits. Debit Credit Transaction General Journal 1 Record entry Clear entry View general journal A Cash Common Stock |Beg. Bal Beg. Bal End. Bal End. Bal Treasury Stock PIC in Excess of Par, CS Beg. Bal Beg. Ba End. Bal End. Bal PIC in Excess of Cost, TS Beg. Bal End. Bal

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students