the following shareholders equity section was taken from the books of the aubry corp 4375664

The following shareholders’ equity section was taken from the books of the Aubry Corporation at the beginning of the current year: Common stock, $ 10 par value, 1,000,000 shares authorized, 98,950 shares issued and outstanding ……………………………… $989,500 Additional paid- in capital in excess of par – common ……………. 120,000 Additional paid- in capital from treasury stock transactions ………. 0 Retained earnings……….……….……….……….……….………. 1,545,000 Required a. Prepare the journal entries required to record each of the following events: • Aubry acquired 15,000 shares of common stock to be held in the treasury at a cost of $ 16 per share. • Aubry sold 4,800 shares of treasury stock at $ 19 per share. • Aubry sold 7,200 shares of treasury stock at $ 8 per share. • Aubry reported a net loss of $ 367,540 for the year. • The company declared and paid a $ 2 per share cash dividend at year- end. b. Prepare the shareholders’ equity section at the end of the year. View Solution:
The following shareholders equity section was taken from the books

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