1.
EPI
EPI sold 10 comma 000
10,000 common shares on June30, 2017
2017. What was the average selling price of these shares if this was the onlycommon-shares transaction during 2017
2017?
2.
Journalize EPI
EPI's sale of the common shares on June30, 2017
2017.
3.
Based only on the aboveinformation, did EPI
EPI earn a profit or loss during 2017
2017? Calculate the profit or loss.
On December 31, 2017, shareholders' equity accounts of Earth Products Inc. (EPI) had the balances shown below. EPI paid dividends of $4,800 on December 1, 2017. (Click the icon to view the shareholders' equity balances.) 1. EPI sold 10,000 common shares on June 30, 2017. What was the average selling price of these shares if this was the only common-shares transaction during 2017? 2. Journalize EPI's sale of the common shares on June 30, 2017. 3. Based only on the above information, did EPI earn a profit or loss during 2017? Calculate the profit or loss. Requirement 1. EPI sold 10,000 common shares on June 30, 2017. What was the average selling price of these shares if this was the only common-shares transaction during 2017? (Round your answer to the nearest cent.) The average selling price of the shares was $ per share. i Shareholders' equity balances Requirement 2. Journalize EPI's sale of the common shares on June 30, 2017. (Record debits first, then credits. Explanations are not required.) Journal Entry 2017 2016 2017 Accounts Debit Credit Common shares $ 72,000 $ 52,000 84,000 83,000 June 30 Retained earnings. . . Total shareholders' equity . .. . . . .. . $ 156,000 $ 135,000 Print Done Requirement 3. Based only on the information given and the calculations above, did EPI earn a profit or loss during 2017? Calculate the profit or loss. (use parentheses of a minus SignTOl a Tiet TOSS. Choose from any list or enter any number in the input fields and then continue to the next question. ?On December 31, 2017, shareholders' equity accounts of Earth Products Inc. (EPI) had the balances shown below. EPI paid dividends of $4,800 on December 1, 2017. (Click the icon to view the shareholders' equity balances.) 1. EPI sold 10,000 common shares on June 30, 2017. What was the average selling price of these shares if this was the only common-shares transaction during 2017? 2. Journalize EPI's sale of the common shares on June 30, 2017. 3. Based only on the above information, did EPI earn a profit or loss during 2017? Calculate the profit or loss. nearest cent.) The average selling price of the shares was $ per share. Requirement 2. Journalize EPI's sale of the common shares on June 30, 2017. (Record debits first, then credits. Explanations are not required.) i Shareholders' equity balances Journal Entry 2017 Accounts Debit Credit 2017 2016 June 30 Common shares $ 72,000 $ 52,000 Retained earnings. . . 84,000 83,000 Total shareholders' equity . ... . . . . . $ 156,000 $ 135,000 Requirement 3. Based only on the information given and the calculations above, did EPI earn a profit or loss during 2017? Calculate the profit or loss. Print Done EPI had a of Choose from any list or enter any number in the input fields and then continue to the next
