Information taken from Nanotec Security Inc.s January 31, 2023, balance sheet follows: On February 1, 2023, the
Question:
Information taken from Nanotec Security Inc.’s January 31, 2023, balance sheet follows:
On February 1, 2023, the company repurchased and retired 500 common shares (the first retirement the company has recorded).
Required
Prepare general journal entries to record the repurchase and retirement under each of the following independent assumptions.
The shares were repurchased for:
a. $5.00 per share
b. $7.50 per share
c. $10.00 per share
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Related Book For
Fundamental Accounting Principles Volume 2
ISBN: 9781260881332
17th Canadian Edition
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
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