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On Jan 1 A company issues 10,000 common shares for $80 and 4,000 preferred shares for $95 with issuance costs of $30,000. On Feb 5
On Jan 1 A company issues 10,000 common shares for $80 and 4,000 preferred shares for $95 with issuance costs of $30,000. On Feb 5 A company repurchases 500 common shares at $70. On Feb 18 A company repurchases another 500 common shares at $90 each. A company has adopted the retained earnings method to account for share issuance costs. How much is in the account "contributed surplus-common shares" after the above transactions:
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