Explain and report transactions affecting common and preferred shares. - Both preferred and common shares are no
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Explain and report transactions affecting common and preferred shares.
- Both preferred and common shares are no par value shares in Canada but are assigned a stated value by the Board when issued.
- Shares issued should be recorded first based on their fair market value. If fair market value cannot be determined, shares should be recorded based on consideration received.
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Related Book For
Cornerstones Of Financial Accounting
ISBN: 9780176707125
2nd Canadian Edition
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone
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