Business, 01.12.2020 16:40 Theblackdot15

On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 83,000 shares $ 830,000
authorized, issued, and outstanding
Paid-in capital in excess of par value, common stock 271,000
Retained earnings 952,000
Total stockholders' equity 2,053,000
Prepare journal entries to record the following transactions for Sherman Systems.
a. Purchased 6,100 shares of its own common stock at $36 per share on October 11.
b. Sold 1,275 treasury shares on November 1 for $42 cash per share
c. Sold all remaining treasury shares on November 25 for $31 cash per share.

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On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par...

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