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On January 12020,ABC Coiporation (a new public company) began operations wth the following transactions - Issund 1,000,000 voting Common Shares at $10 per share -

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On January 12020,ABC Coiporation (a new public company) began operations wth the following transactions - Issund 1,000,000 voting Common Shares at $10 per share - Issued 8,000,000 Prefered Cumulative and Retractable Preferred Shares at $200 per share. The Cumulative Dividend is $1.00 On Apni 1st 2020 the followng transaction took place - Issued an additional 1,000,000 Voing Common Shares for $8 per share On June 30 th, 2020, the followng transaction took place - Halt of the Prolerred Shareholders requested to have their Preferred shares bought back by the corporation at the onginal Issuance Price On September 30h The Corporation reacqured 500,000 of its Voting Common Shares for $7.50 per share On December 31. - The Corporahon's Board of Directors declared a Preferred Share Dividond of $1,00 per share REQUIRED (a) Prepare the Joumal Entries for each of the above Transactions. Show all calculations for your answers (b) What is the Weighted Average number of Voting Common Shares for 2020 ? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). On January 12020,ABC Coiporation (a new public company) began operations wth the following transactions - Issund 1,000,000 voting Common Shares at $10 per share - Issued 8,000,000 Prefered Cumulative and Retractable Preferred Shares at $200 per share. The Cumulative Dividend is $1.00 On Apni 1st 2020 the followng transaction took place - Issued an additional 1,000,000 Voing Common Shares for $8 per share On June 30 th, 2020, the followng transaction took place - Halt of the Prolerred Shareholders requested to have their Preferred shares bought back by the corporation at the onginal Issuance Price On September 30h The Corporation reacqured 500,000 of its Voting Common Shares for $7.50 per share On December 31. - The Corporahon's Board of Directors declared a Preferred Share Dividond of $1,00 per share REQUIRED (a) Prepare the Joumal Entries for each of the above Transactions. Show all calculations for your answers (b) What is the Weighted Average number of Voting Common Shares for 2020 ? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)

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