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Marigold Corp. a private corporation, received its articles of incorporation on January 3, 2024, it is sothorized to bsye an unlimited number of common shares
Marigold Corp. a private corporation, received its articles of incorporation on January 3, 2024, it is sothorized to bsye an unlimited number of common shares and $1 preferred shares. It had the following share transactions during the year: Jar. 12 Issued 48,500 common shares for $5 per share. 24 Issued 920 commen shares in parment of a $5.662 bill for legal services. July 11 isued 970 preferred sharesfor 525 pershare. Oct 1 Issued 9,700 common shares in exehange for land, The land's fair value was estimated to be $53350. Marifold s. accocintant estimated that the fair value of the shares bsued might be as high as $6 per share. Calculate the average per share amount for the common shares. (Round onswer to 2 decimol ploces, es. 5.25) Average cost s eTextbookand Media List of Accounts
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