E14.3 (LO 2) AP Moosonee Ltd. had the following share transactions during its first year of...
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E14.3 (LO 2) AP Moosonee Ltd. had the following share transactions during its first year of operations: Jan. 6 Issued 200,000 common shares for $1.50 per share. 12 Mar. 17 July 18 Nov. 17 Issued 50,000 common shares for $1.75 per share. Issued 1,000 preferred shares for $105 per share. Issued 1 million common shares for $2 per share. Reacquired 200,000 common shares for $1.95 per share. Reacquired 150,000 common shares for $1.80 per share. Dec. 30 Instructions a. Journalize the transactions. b. How many common shares remain at the end of the year? E14.3 (LO 2) AP Moosonee Ltd. had the following share transactions during its first year of operations: Jan. 6 Issued 200,000 common shares for $1.50 per share. 12 Mar. 17 July 18 Nov. 17 Issued 50,000 common shares for $1.75 per share. Issued 1,000 preferred shares for $105 per share. Issued 1 million common shares for $2 per share. Reacquired 200,000 common shares for $1.95 per share. Reacquired 150,000 common shares for $1.80 per share. Dec. 30 Instructions a. Journalize the transactions. b. How many common shares remain at the end of the year?
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Part a Journal Entries Date Account Title and Explanation Debit Credit Jan 6 Cash Ac 3000... View the full answer
Related Book For
Accounting Principles Part 3
ISBN: 978-1118306802
6th Canadian edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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