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Please show you steps, thank you Q1 On March 20 2019, as a precautionary measure, Madison purchased 15,000 of its common shares sold on June
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Q1 | On March 20 2019, as a precautionary measure, Madison purchased 15,000 of its common shares sold on June 15, 2018 at $20 per share and immediately retired those shares. | ||||||||
Q2 | On April 28, 2019, Madison purchased 5,000 of its common shares issued on June 15, 2018 at $13 per share. | ||||||||
The following transactions related to the treasury stocks purchased on April 28 took place throughout the year. | |||||||||
a) | 8-Jul | Sold 500 shares of treasury stock purchased on April 28 for $27 per share | |||||||
b) | 21-Oct | Sold 1000 shares of treasury stock purchased on April 28 for $20,000 | |||||||
c) | 18-Nov | Sold 1500 shares of treasury stock purchased on April 28 for $16,500 | |||||||
d) | 15-Dec | Retired the remaining treasury shares purchased on April 28 | |||||||
Q3 | The Retained Earnings of Madison reflects a balance of $550,000 on January 30, 2019. Prepare the stockholders' equity section of Madison as of December 31, 2019 including disclosure of all relevant information. |
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