Question: Old MathJax webview I need help with part C mainly LARGE LONG Colin Biscell 720,000 3. On February 10, the stockholders equity of Sherman Systems

Old MathJax webview

Old MathJax webview I need help with part C mainly LARGE LONG

I need help with part C mainly

LARGE LONG Colin Biscell 720,000 3. On February 10, the stockholders equity of Sherman Systems appears as follows: Common stock-$10 par value, 72,000 shares authorized, issued, and outstanding $ 216,000 Paid-in capital in excess of par value, common stock Retained aemings 864,000 Total stockholders' equity $ 1,800,000 a. On February 11, Sherman Systems reacquired 5,000 shares of its own common stock at $25 per share. Journalize the February 11 transaction. Feb 11 cm Srocks 2.000 shares X250 125.000 [125,000 b. Prepare the revised equity section for Sherman Systems after the February 11 treasury stock purchase. Stockholders' Equity February 11 (after treasury stock purchase) Common Stock, $10 par 720,000 Paid-in capital in excess of par value, common stock 216,000 Total paid-in capital = 936,000 Retained earnings +1864,000 Total -Treasury stock 1802000 125000 1,675,000 Total stockholders' equity C. On July 8, Sherman Systems sold 3,000 of the reacquired shares at $31 per share. On November 1, Sherman Systems sold 1,500 of the reacquired shares at $22 per share. Journalize the transactions of July 8 and November 1. Jul 8 93,000 Cash te (3000x31) Treasury stack 3,000 +25) 63000 Paid in capite from sale of treasury stock 30.000 Now 1 Cash (1500x22 33,000 1500x/31-22) 13,500

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