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Tofu and Eggs Restaurant Ltd. has the following Equity Section in their Financial Statements at the end of December. $ 186,000 3,000,000 Contributed Capital: Preferred
Tofu and Eggs Restaurant Ltd. has the following Equity Section in their Financial Statements at the end of December. $ 186,000 3,000,000 Contributed Capital: Preferred shares, $1.50, unlimited shares authorized, 15,000 shares issued and outstanding...... Common shares, unlimited shares authorized, 200,000 shares issued and outstanding.. Contributed Capital from Retirement of common shares....... Total contributed capital Retained Earnings Total Equity 20,000 $3,286,000 $ 214,000 $3,500,000 In February of 2021 the Board of Directors decides to buy back shares from the open market. They buy 10,000 shares on February 17th for $20.00 per share. Fill in the values for the following journal. Common Shares Blank 1 Contributed Capital from Retirement of common shares Blank 2 Retained Earnings Blank 3 Cash Blank 4 Blank 1 Add your answer Blank 2 Add your answer Blank 3 Add your answer Blank 4 Add your
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