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Wildhorse Technologies Inc. reported the following information related to its shareholders' equity on January 1: Common shares, 1,400,000 authorized, 700.000 shares issued $1,400,000 Contributed surplus-reacquisition
Wildhorse Technologies Inc. reported the following information related to its shareholders' equity on January 1: Common shares, 1,400,000 authorized, 700.000 shares issued $1,400,000 Contributed surplus-reacquisition of common shares 14,810 Retained earnings 709,000 During the year, the following transactions related to common shares occurred in the order listed: 1 Issued 35,000 shares at $4.10 per share. 2. Reacquired 9,000 shares at $2.00 per share. 3. Issued 3,000 shares at $4.53 per share. Reacquired 19,000 shares at $4 per share 5. Reacquired 74,000 shares at $2 per share. (a) Calculate the number of shares authorized and issued at the end of the year. Number of shares authorized Number of shares issued (b) Determine the ending balances in each of the following accounts: Common Shares, Contributed Surplus-Reacquisition of Common Shares, and Retained Earnings. (Round the average issue price to two decimal places, e.g. 5.27 and final answers to O decimal places, e.g. 5,276.) Common shares $ Contributed Surplus-reacquisition of common shares ta Retained earnings ta
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