Question
On July 1, 2023, Bad Accountants Inc had the following shares outstanding on its balance sheet: Common shares - Unlimited shares authorized, 55,231 shares issued
On July 1, 2023, Bad Accountants Inc had the following shares outstanding on its balance sheet:
Common shares - Unlimited shares authorized, 55,231 shares issued and outstanding - $614,217
Non-cumulative preferred shares - 150,000 shares authorized, 1,176 shares issued and outstanding - $95,514
The company has never repurchased shares, issued stock options, nor issued shares in excess of par value.
On Aug 31, 2023, the company repurchased 105 preferred shares for $46 per share.
On October 1, 2023, the company repurchased 118 common shares for $16 per share.
How much in contributed surplus will appear on the company's balance sheet after these transactions?
Enter a positive number. Do not use $ signs in your final answer. Round your final answer to the nearest dollar. Do not round intermediary answers.
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