On December 31, 2014, shareholders' equity accounts of Green Products Inc. (GPI) had the balances shown below.

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On December 31, 2014, shareholders' equity accounts of Green Products Inc. (GPI) had the balances shown below. GPI paid dividends of $4,096 on December 1, 2014.

On December 31, 2014, shareholders' equity accounts of Green Products

1. GPI sold 10,000 common shares on June 30, 2014. What was the average selling price of these shares if this was the only common-shares transaction during 2014?
2. Journalize GPI's sale of the common shares on June 30, 2014.
3. Based only on the above information, did GPI earn a profit or suffer a loss during 2014? Calculate the profit or loss.

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Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-0133472264

5th Canadian edition

Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin

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