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The red is incorrect, I will upvote if correct. On June 8, Pharoah Ltd. was incorporated and issued 33,600 common shares for $336,000 On August
The red is incorrect, I will upvote if correct.
On June 8, Pharoah Ltd. was incorporated and issued 33,600 common shares for $336,000 On August 19, an additional 8,400 shares were issued for $100,800. On November 2 the company paid $32.256 to reourchase 3,360 common shares and on December 7 it paid $58.240 to repurchase 4,480 common shares. (a) Calculate the average cost of the common shares on fune 8. August 19. November 2, and Deciember 7. (Round arswers to 2 decimal places, es 15.25. Prepare the journal entries to record the above transactions. (List all debit entries before credit entries. Record joumal entries in the order presented in the problem. Gredit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amountsy) Step by Step Solution
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