Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On April 7, 2021, Mo's Motor Corp. had a balance of $341,000 in its Common Shares account and the total number of shares issued was

image text in transcribedimage text in transcribedimage text in transcribed

On April 7, 2021, Mo's Motor Corp. had a balance of $341,000 in its Common Shares account and the total number of shares issued was 31,000. On April 8, 2021, Mo's paid $18,050 to reacquire 1,900 shares. On November 22, 2021, the company paid $44,200 to reacquire 3,400 shares. On December 30, the company issued 8,000 shares for $15.50 per share. Determine the average per share amount on April 7 and November 22, 2021. (Round answer to 2 decimal places, e.g. 15.25.) Average per share amount 11,10.86 e Textbook and Media Assistance Used List of Accounts Assistance Used Record the transactions for the reacquisitions of shares and issue of shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Apr. 8 Common Shares 20900 Contributed Surplus - Reacquisition of Common Shares 2850 Cash 18050 Nov. 22 Common Shares 37400 Contributed Surplus - Reacquisition of Common Shares Retained Earnings Cash 44200 Dec. 30 Cash Common Shares How many common shares remain at the end of the year? Common shares e Textbook and Media List of Accounts Save for Later Last saved 20 minutes ago. Attempts: 0 of 2 used Submit Answer Saved work will be auto-submitted on the due date. Auto

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

Software Quality Assurance A Guide For Developers And Auditors

Authors: Howard T. Garst Smith

1st Edition

1574910493, 978-1574910490

More Books

Students also viewed these Accounting questions

Question

=+21.6. Prove (21.9) by Fubini's theorem.

Answered: 1 week ago

Question

What is Biospanning and its significance?

Answered: 1 week ago

Question

Guidelines for Informative Speeches?

Answered: 1 week ago