CHP 14, Q2

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Question 2 of 3 12.73 / 18 6 Blossom Ltd. had the following share transactions during its first year of operations: Jan. Issued 240.000 common shares for $1.50 per share Jan. 12 Issued 60.000 common shares for $1.75 per share Mar. 17 Issued 1.200 preferred shares for $105 per share. July 18 Issued 1.200,000 common shares for $2 per share. 17 Reacquired 240.000 common shares for $1.95 per share. Dec 30 Reacquired 180.000 common shares for $1.80 per share. Nov. Your answer is partially correct. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round average per share to 2 decimal places, eg. 52.75 and final answers to decimal places, eg. 5,275. Record journal entries in the order presented in the problem.) Date Debit Credit Account Titles and Explanation Cash Jan. 6 360,000 Common Shares (Issued common shares for cash.) Jan. 12 Cash 105,000 Common Shares (Issued common shares for cash) Mar. 17 Cash 126000 Preferred Shares (Issued preferred shares for cash.) Cash July 18 2400000 2 Common Shares Question 2 of 3 12.73 / 18 III (Issued common shares for cash.) Nov. 17 Common Shares 240000 Common Shares 240000 Cash Dec 30 V (To record reacquisition of common shares.) Common Shares Contributed Surplus - Reacquisition of Common Shares 343800 Cash (To record reacquisition of common shares.) e Textbook and Media List of Accounts Your answer is partially correct. How many common shares remain at the end of the year and what is their average per share? (Round average per share to 2 decimal places, eg. 52.75.) Remaining common shares 1,080,000 Average per share $ 192