Exercise $13-13($Static$)$ Recording and reporting treasury stock transactions LO P$3$

On October $10,$ the stockholders' equity section of Sherman Systems appears as follows.

$3$

points

$04$:$12$:$34$

Common stock$-$$$10$ par value, $72,000$ shares authorized, issued, and outstanding Paid$-$in capital in excess of par value, common stock

Retained earnings

Total stockholders' equity

Prepare journal entries to record the following transactions for Sherman Systems.

a$.$ Purchased $5,000$ shares of its own common stock at $$25$ per share on October $11.$

b$.$ Sold $1,000$ treasury shares on November uarr for $$31$ cash per share.

c$.$ Sold all remaining treasury shares on November $25$ for $$24$ cash per share.

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.

$\backslash$table$[[$Revised Stockholders' Equity Section of Balance Sheet After October $11,],[,],[,],[$Total contributed capital,$],[,],[$Total$,],[$Total stockholders' equity,$]]$