The following shareholders equity section was taken from

the books #3182

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-
capital in excess of par – common ……………. 120,000Additional paid- in capital from treasury stock
transactions ………. 0 Retained earnings……….……….……….……….……….………. 1,545,000Require
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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