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On June 8, Steering Ltd was incorporated and issued 56,000 common shares for $280,000. On August 19, an additional 14,000 shares were issued for $84,000.
On June 8, Steering Ltd was incorporated and issued 56,000 common shares for $280,000. On August 19, an additional 14,000 shares were issued for $84,000. On November 2, the company paid $29,760 to reacquire 6,200 common shares and on December 7 it paid $51,350 to reacquire 7,900 common shares.
Calculate the average cost of the common shares on June 8, August 19, November 2, and December 7.
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