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ans quick On January 1, 2021, Wally Wholesale Ltd. has 25,000 common shared issued for a total of $ 62,500, and no other shares or
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On January 1, 2021, Wally Wholesale Ltd. has 25,000 common shared issued for a total of $ 62,500, and no other shares or contributed capital. During 2021, Wally had the following transactions: Jan 15 Issued 15,000 common shares for $2.50 each. Mar 31 Settled an account for legal expenses by issuing 2,500 shares. The value of the legal services was $5,000. Sep 30 Issued 9,000 shares in exchange for equipment with a fair value of $ 22,500. Required: Do not use commas or dollar signs. Enter negative numbers with a negative sign (-). Fractions should be entered as a decimal. a) Record the transactions Jan 15 Cash . 37500 Common Shares 37500 Mar 31 Legal Expense 5000 Common Shares 5000 Sep 30 Equipment 22500 Common Shares 22500 b) Calculate the total number issued and average cost per share of the common shares at the end of 2021. Number of shares = Total cost = SStep by Step Solution
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