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22 A company's corporate charter authorized the issuance of 100 million, 51 par common shares. During 2021, its first year of operations, the company had
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A company's corporate charter authorized the issuance of 100 million, 51 par common shares. During 2021, its first year of operations, the company had the following transactions, January 1 Sold 17 million shares at $24 per share May 10: Retired 11 million shares at $27 per share August 4. Sold 12 million shares at $26 per share The Journal entry for the sale of shares on August 4 will include: (Click to select (Click to select credit to Paid in Capital Share Repurchase for $312 milion credit to Paid in Capital -- Share Ropurchase for $300 milion credit to Paid-in Capital - Excess of Par for $300 million credit to Paid-in Capital -- Excess of Par for $312 million Step by Step Solution
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