Question
In 2018, Al Wahda Company started its business by offering 200,000 shares for public subscription with a nominal value of $10 out of its authorized
In 2018, Al Wahda Company started its business by offering 200,000 shares for public subscription with a nominal value of $10 out of its authorized capital of 500,000 shares. In 2019, the company made the following financial moves: - 31/1 The company repurchased 15,000 shares at $30 per share (treasury shares). - 31/7 The company resold 5,000 shares at $33 per share (treasury shares). - 30/9 The company sold the remaining treasury shares at a price of $28 per share
. Required: Record the entries of the above operations starting from the establishment and the subsequent operations according to the cost method.
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