At the beginning of 20x1, the accounting records of Friends Corp. reported the following: Preferred shares,...

 

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At the beginning of 20x1, the accounting records of Friends Corp. reported the following: Preferred shares, 8.200 shares outstanding, no-par Common shares, 182,000 shares outstanding, no-par Contributed capital on common share retirement Retained earnings During the year, the company acquired and retired shares, while other shares were issued: 15 Mah 25,800 common shares bought and retired at $5 per share 18 Mach 4,900 preferred shares bought and retired at $30.30 per share 20 May 10,100 common shares bought and retired at $1 per share 25 May 2,600 preferred shares bought and retired at $18. 10 per share 30 May 11,600 common shares issued at $12.10 per share 15 Nov. 5,700 common shares bought and retired at $22 per share Required: 1. Give journal entries to record each share retirement transaction. (Round intermediate calculations to 2 decimal places and Round your final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Recerd retirement of common shares at s5 per share ute r ot tur oe Date Geeral Juumal De Cred 15 March 2. Calculate the closing balance in each account in shareholders' equity. (Round intermediate calculations to 2 decimal places. Round your final answers to the nearest whole dollar.) Preferred har Commen shar Contributed capital on share retiremert Commen Pretered Retained eamings At the beginning of 20x1, the accounting records of Friends Corp. reported the following: Preferred shares, 8.200 shares outstanding, no-par Common shares, 182,000 shares outstanding, no-par Contributed capital on common share retirement Retained earnings During the year, the company acquired and retired shares, while other shares were issued: 15 Mah 25,800 common shares bought and retired at $5 per share 18 Mach 4,900 preferred shares bought and retired at $30.30 per share 20 May 10,100 common shares bought and retired at $1 per share 25 May 2,600 preferred shares bought and retired at $18. 10 per share 30 May 11,600 common shares issued at $12.10 per share 15 Nov. 5,700 common shares bought and retired at $22 per share Required: 1. Give journal entries to record each share retirement transaction. (Round intermediate calculations to 2 decimal places and Round your final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Recerd retirement of common shares at s5 per share ute r ot tur oe Date Geeral Juumal De Cred 15 March 2. Calculate the closing balance in each account in shareholders' equity. (Round intermediate calculations to 2 decimal places. Round your final answers to the nearest whole dollar.) Preferred har Commen shar Contributed capital on share retiremert Commen Pretered Retained eamings

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