Question: Hi, please help with the question below. Make sure you read through these requirements before answer the question: 1. Answer the question exactly follow the
Hi, please help with the question below. Make sure you read through these requirements before answer the question:
1. Answer the question exactly follow the chart that I provided below
2. Only answer the question in case you can make sure you will answer them all.
3. Provide solutions to how you get these answers. Thank you.





On October 10, the stockholders' equity of Sherman Systems appears as follows: Common stock-$10 par value, 72,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 720,000 216,000 864,000 Total stockholders' equity $1,800,000 1. 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 1 for $31 cash per share. c. Sold all remaining treasury shares on November 25 for $20 cash per share. View transaction list Journal entry worksheet 1 2 3 Record the purchase of 5,000 shares of its own common stock for $25 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet 3 Record the reissue of 1,000 shares of the treasury stock for $31 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet
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