Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

On April 7.2021, Mo's Motor Corp, had a balance of $468,000 in its Common Shares account and the total number of shares issued was 39,000.

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
On April 7.2021, Mo's Motor Corp, had a balance of $468,000 in its Common Shares account and the total number of shares issued was 39,000. On April 8, 2021, Mo's paid $13,000 to reacquire 1,300 shares. On November 22, 2021, the company paid $39,200 to reacquire 2,800 shares. On December 30, the company issued 6,000 shares for $16.50 per share. Determine the average per share amount on April 7 and November 22 2021. (Round answer to 2 decimal places, eg. 15.25.) Average per share amount $ 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) 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 Nov. 22 Nov. 22 Dec. 30 Dec 30 How many common shares remain at the end of the year? Common shares So for late Attempts: O of I used Submit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Managerial Accounting

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

2nd edition

978-0078025518

Students also viewed these Accounting questions

Question

bincoin functions?

Answered: 1 week ago