Question: CAN YOU PLEASE HELP ME SOLVE THIS PROBLEM AND CAN YOU SHOW THIS VERY CLEARLY The following information pertains to JAE Corp. at January 1

CAN YOU PLEASE HELP ME SOLVE THIS PROBLEM AND CAN YOU SHOW THIS VERY CLEARLY

CAN YOU PLEASE HELP ME SOLVE THIS PROBLEM AND CAN YOU SHOW

THIS VERY CLEARLY The following information pertains to JAE Corp. at January

1 Year 1: Common stock, $10 par, 14, eee shares authorized, 2,800

shares issued and outstandine Paid-in capital in excess of par, common stock

The following information pertains to JAE Corp. at January 1 Year 1: Common stock, $10 par, 14, eee shares authorized, 2,800 shares issued and outstandine Paid-in capital in excess of par, common stock Retained earnings $28, cae 13.20 50, 660 JAE Corp. completed the following transactions during Yeart 1. Issued 900 shares of $10 par common stock for $27 per share. 2. Repurchased 170 shares of its own common stock for $24 per share, 3. Resold 50 shares of treasury stock for $25 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. Reg A and B ReQC Read 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 shates at the end of the period RE Regc > Reg A and B Reqc Reg 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 1 Stockholders' Equity Assets Event = Liabilities Cash Common Stock Paid-in Capital In Excess Common Stock + Paid-in Capital In Excess Treasury Stock Treasury Stock Retained Earnings + - Beg. bal. 1. 2. 3. 1- - 0 - End bal. 0 + 0 + Reg A and B Reqc Reg D Prepare the stockholders' equity section of the balance sheet reflecting these transactions. JAE CORPORATION Balance Sheets (Partial) As of December 31 Stockholders' Equity Total paid-in capital Total stockholders' equity ReqC ROOD & Prev 4 of 7 Mercury Corporation issued 4,500 shares of no par common stock for $10 per share. Mercury also issued 4,500 shares of $50 par. 5 percent noncumulative preferred stock at $60 per share. Required Record the transactions in a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Not all cells in the "Statement of Cash Flows" column may require an input. leave cells blank if there is no corresponding input needed.) MERCURY CORPORATION Horizontal Statements Model Balance Sheet Stockholders' Equity Revenue Preferred . Common PIC in Stock Stock Excess Income Statement - Expense Net Income Statement of Cash Flows Assets Event Cash 1- Issue of CS 2 - Issue of PS

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