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The Data Group Inc. had the following balances in its equity accounts at December 31, 2019: Common shares, unlimited shares authorized; 170,880 shares issued and
The Data Group Inc. had the following balances in its equity accounts at December 31, 2019: Common shares, unlimited shares authorized; 170,880 shares issued and outstanding Retained earnings $2,55e.ee 430,000 During 2020, the following equity transactions occurred: Apr. 15 Repurchased and retired B, 480 common shares at $13.40 per share. May 1 Repurchased and retired 14,088 common shares at $16.60 per share. Nov. 1 The board of directors declared a 2:1 share split effective on this date. Required: 1. Prepare journal entries to account for the transactions during 2020 (assuming the retirements were the first ever recorded by The Data Group Inc.). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet Date Credit No 1 Debit 128,000 Apr. 15 General Journal Common shares Cash Contributed capital from retirement of common shares 112,560 13.440 2 May 01 Common shares Contributed capital from retirement of common shares Retained earnings Cash 210,000 13,440 8,960 232,400 3 Nov. 01 No journal entry required Amount Date Apr. 15 May 01 Nov. 01 Note Disclosure Note disclosure not required Note disclosure not required Note disclosure required 2. Prepare the company's equity section on the December 31, 2020, balance sheet, assuming a loss for the year of $142,000. THE DATA GROUP INC. Equity Section of Balance Sheet December 31, 2020 Contributed capital Retained earnings Common shares, unlimited shares authorized, 295,200 shares issued and outstanding Total equity S
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