MicroChip Corporation's Shareholders' Equity had the following account balances: Common shares, 900,000 authorized, 400,000 issued and outstanding............$1,800,000
Question:
Common shares, 900,000 authorized, 400,000 issued and outstanding............$1,800,000
Retained earnings .................................................................................750,0
On July 3, Best Corporation reacquired and retired 40,000 common shares at $5 per share. On September 12, Best Corporation purchased and retired an additional 20,000 shares at $4 per share. On November 11, Best Corporation purchased and retired another 30,000 shares at $7 per share.
Journalize the transactions of July 3, September 12, and November 11c
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Jul 3 CommonShares 40000 x 450 180000 RetainedEarnings 20000 Cash40000 x 5 200...View the full answer
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Related Book For 
Accounting Volume 2
ISBN: 978-0176509743
2nd Canadian edition
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
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