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please solve it before 10 min if possible please Waterway Corporation has the following shareholders' equity on December 31, 2021: $572000 Shareholders' equity Share capital
please solve it before 10 min if possible please
Waterway Corporation has the following shareholders' equity on December 31, 2021: $572000 Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 4900 shares issued Common shares 200,000 shares authorized, 94000 shares issued Total share capital Retained earnings Total shareholders' equity 1880000 2452000 449000 $2901000 If 10300 common shares were reacquired for $22 per share the journal entry to record the transaction would O credit Contributed Surplus-Reacquisition of Shares for $20600 credit Retained Earnings for $20600. debit Common Shares for $206000, credit Common Shares for $226600Step by Step Solution
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