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Information taken from Nanotec Security Inc.'s January 31, 2020, balance sheet follows: Common shares, 420,000 shares authorized, 34,000 shares issued and outstanding Retained earnings $272,000
Information taken from Nanotec Security Inc.'s January 31, 2020, balance sheet follows: Common shares, 420,000 shares authorized, 34,000 shares issued and outstanding Retained earnings $272,000 80,350 On February 1, 2020, the company repurchased and retired 600 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. $5.50 per share b. $8.00 per share c. $10.50 per share Answer is not complete. No Date General Journal A Feb. 01, 2020 Common shares Cash B Feb. 01, 2020 Common shares Cash Feb. 01, 2020 Common shares Cash Debit Credit 3,300 3,300 4,800 4,800 6,300 6,300x
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