Chapter $13$ Homework $($i$)$

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Information taken from Nanotec Security Inc.$\text{'}$s January $31,2023,$ balance sheet follows:

Common shares, $760,000$ shares authorized, $68,000$ shares

issued and outstanding.

Retained earnings

On February $1,2023,$ the company repurchased and retired $2,300$ common shares $($the first retirement the company has recorded$).$

Required:

Prepare General Journal entries to record the repurchase and retirement under each of the following independent assumptions.

The shares were repurchased for:

a$.$ $$14\mathrm{.}00$ per share

b$.$ $$16\mathrm{.}50$ per share

c$.$ $$19\mathrm{.}00$ per share

Journal entry worksheet

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