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Required information Applying Excel 10-1: Using Excel to Prepare Journal Entries Related to Stock Transactions. [The following information applies to the questions displayed below] In this Applying Excel exercise you will use formulas and cell referencing to prepare the journal entries related to stock transactions: Watch the tutorial video and then complete Parts 1 and 2 to practice and apply the skills demonstrated in the video. Revise your worksheet to refiect these updated assumptions and then answer the questions that follow. Required: 1. Use your spreadsheet to recaiculate the amounts related to the stock transactions and then prepare the related journal entries: (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the issuance of cortmon shares at an issue price of $16 per share. Note: Enter debits before credits. Journal entry worksheet Record the purchase of treasury shares for a purchase price of $41 per share. Note: Enter debits before credits. Journal entry worksheet Record the resale of treasury shares at a resale price of $45 per share. Note: Enter debits before credits. Required information Applying Excel 10-1: Using Excel to Prepare Journal Entries Related to Stock Transactions. [The following information applies to the questions displayed below] In this Applying Excel exercise you will use formulas and cell referencing to prepare the journal entries related to stock transactions. Watch the tutorial video and then complete Parts 1 and 2 to practice and apply the skills demonstrated in the video. Prepare Excel spreadsheet (Part 1) Download the 'Applying Excel' worksheet below and save it to your computer. View the tutorial video, and then complete the worksheet. Enter formulas in cells that contain question marks (only use formulas). After entering formulas in all of the cells that contain question marks, verify t the amounts match the example below. (a) issuance of common stock (b) Purchase of treasury stock (c) Sale of treasury stock Check your worksheet setup and formulas by changing the number of common shares issued to 150,000 , and the number of treasury shares purchased to 2,000 You should now have a worksheet that shows the following results: (a) Issuance of common stock (b) Purchase of treasury stock (c) Sole of treasury stock If you do not get these answers, revew your worksheet and the formulas you used and try ogain. Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse". Next click "Save". You will use this worksheet to answer questions in Part 2. "View the tutorial, then complete the workcheet, replocing the question marks below with formulas. Required: Baved on the intormation below prepare the journal entries to record 1) the issuance of the common stock and 2) the purchale and subsequent sale of the treasury stock. Given Information lanusind 1 \begin{tabular}{|l|r|} \hline Number of common shares issued & 100,000 \\ \hline Par value per thare & 50.01 \\ \hline lssue price per share & 516.00 \\ \hline \end{tabular} Merch 18. Number of shares purchased Purchase price per share November 11 \% of thares resold Resale price per share \begin{tabular}{|c|c|c|} \hline & & \\ \hline & & \\ \hline & & \\ \hline Answen: & & \\ \hline \end{tabular} (a) Esuance of common stock lanuary 1. Cash Common Stock Additional Paid-in Capital (b) Purchase of treasury stock March18 Treasury Stock Cauh (c) Sale of treasury stock November 11 Cash ? 7