Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi guys, I'm just struggling with the very last question of average cost of Common Shares. The rest I got right. Any help would be

image text in transcribedimage text in transcribed

image text in transcribed

Hi guys, I'm just struggling with the very last question of average cost of Common Shares. The rest I got right. Any help would be appreciated! Thanks in advance!

Exercise 11-3 Cinrich Ltd. was incorporated as a private company on January 2, 2018, and is authorized to issue an unlimited number of common shares and $1 preferred shares. The company had the following share transactions in its first month of operations: Jan. Issued 186,000 common shares for $1.40 per share. 6 12 Issued 54,000 common shares for $1.80 per share. 17 Issued 9,300 preferred shares for $25.00 per share 18 Issued 466,000 common shares for $2.00 per share 24 Reacquired 193,000 common shares at $1.90 per share. 31 Issued 9,800 common shares in exchange for $14,700 of legal services

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Yes You Can Get A Financial Life

Authors: Ben Stein, Phil Demuth

1st Edition

1401911250, 978-1401911256

More Books

Students also viewed these Accounting questions