Question: Please help with the incorrect answers! Thank you! 11 The following information pertains to JAE Corp. at January 1, Year 1: Common stock, $10 par,





Please help with the incorrect answers! Thank you!
11 The following information pertains to JAE Corp. at January 1, Year 1: Common stock, $10 par, 15,000 shares authorized, 3,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $30,000 12,600 50,900 JAE Corp. completed the following transactions during Year 1: 1. Issued 900 shares of $10 par common stock for $28 per share. 2. Repurchased 220 shares of its own common stock for $25 per share. 3. Resold 50 shares of treasury stock for $26 per share. Required a. How many shares of common stock were outstanding at the end of the period? Answer is complete and correct. Outstanding shares at the end of the period 3,730 b. How many shares of common stock had been issued at the end of the period? X Answer is complete but not entirely correct. Issued shares at the end of the period 3,300 X d. Prepare the stockholders' equity section of the balance sheet reflecting these transactions. (Amounts to be deducted should be indicated with minus sign.) X Answer is complete but not entirely correct. Stockholders' equity Common stock $ 39,000 Paid-in capital in excess of par, CS 28,800 50 Paid-in capital in excess of cost, TS Total paid-in capital $ 67,850 Retained earnings 50,900 Less: Treasury stock Total stockholders' equity 4,250 X $ 114,500
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