Business, 21.05.2020 00:14, allysongonzalezlove0

The following information pertains to JAE Corp. at January 1, 2018:

Common stock, $11 par, 12,000 shares authorized, 2,400 shares issued and outstanding: $26,400
Paid-in capital in excess of par, common stock 16,700
Retained earnings 74,600

JAE Corp. completed the following transactions during 2018:

Issued 1,200 shares of $11 par common stock for $29 per share.
Repurchased 230 shares of its own common stock for $26 per share.
Resold 50 shares of treasury stock for $27 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. Include the number Of shares authorized, issued, and outstanding in the description of the common stock.

Answers: 1

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The following information pertains to JAE Corp. at January 1, 2018:

Common stock, $11 p...