On June 12, Dieppe Corporation commenced operations and issued 60,000 common shares for $300,000. On July 11,

Question:

On June 12, Dieppe commenced operations and issued 60,000 common shares for $300,000. On July 11, it issued an additional 15,000 common shares for $90,000. On November 28, it reacquired and retired 25,000 shares. Record the share transactions assuming the company paid
(a) $125,000 to reacquire the shares,
(b) $135,000 to reacquire the shares.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...