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On June 8, Sheridan Ltd. was incorporated and issued 34,200 common shares for $342,000. On August 19, an additional 8,550 shares were issued for
On June 8, Sheridan Ltd. was incorporated and issued 34,200 common shares for $342,000. On August 19, an additional 8,550 shares were issued for $102,600. On November 2, the company paid $32,832 to repurchase 3,420 common shares and on December 7 it paid $59,280 to repurchase 4,560 common shares. (a) Your answer is partially correct. Calculate the average cost of the common shares on June 8, August 19, November 2, and December 7. (Round answers to 2 decimal places, eg. 15.25.)
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