Question
Middle East Trading Co. is a corporation with 500,000 common share 2 J.D stated value outstanding , the Corporation on 1/4/2021 decided to purchase 100,000
Middle East Trading Co. is a corporation with 500,000 common share 2 J.D stated value outstanding , the Corporation on 1/4/2021 decided to purchase 100,000 of its own shares from the market knowing that the Market value of the share at that date was 10 J.D per share , and on 1/5/2021 the company decided to sell 30,000 of its treasury share back to the market when the market value at that date was 14 J.D , and on 15/7/2021 the company faced a liquidity crisis and decided to sell 40,000 of its treasury shares when the market value of the share was 8 J.D , and on 15/11/2021 the company board was considering declaring a cash dividend but due to the lack of cash on hand they decided to sell the remaining treasury shares at a market value of 6 J.D.(Assume the share premium before the transactions occurred had a balance of 0 J.D) prepare the entries at the following dates : A.1/4/2021 (1.5 point) B.1/5/2021 (1.5 point) C.15/7/2021 (1.5 point) D.15/11/2021(1.5 point)Multi Line Text.
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