Question: help me as soon as possible WESTBY CORP. Equity Section of the Balance Sheet January 31, 2020 Common shares, unlimited shares authorized, 20,000 shares issued

help me as soon as possible
help me as soon as possible WESTBY CORP. Equity Section of the
Balance Sheet January 31, 2020 Common shares, unlimited shares authorized, 20,000 shares
issued and outstanding Retained earnings 258,500 151,320 Total equity $ 409,820 c.
What was the average issue price per common share? (Round your answer
to 2 decimal places.) Average issue price $ 12.92 per share Westby

WESTBY CORP. Equity Section of the Balance Sheet January 31, 2020 Common shares, unlimited shares authorized, 20,000 shares issued and outstanding Retained earnings 258,500 151,320 Total equity $ 409,820 c. What was the average issue price per common share? (Round your answer to 2 decimal places.) Average issue price $ 12.92 per share Westby Corp., a high school uniform manufacturer, was authorized to issue an unlimited number of common shares. During January 2020, its first month of operations, the following selected transactions occurred: Jan. 1 1, eee shares were issued to the organizers of the corporation. The total value of the shares was determined to be $11,888. 5 15,000 shares were sold to various shareholders for $13.30 each. 15 The board of directors declared a cash dividend of $0.73 per common share to shareholders of record on January 19, payable January 31. 24, eve shares were issued in exchange for land valued at $47,200. The shares were actively trading on this date at $11.3e per share. 31 Closed the Income Summary account, which showed a credit balance of $163,000. 31 Paid the dividends declared on January 15. Required: a. Journalize the above transactions. The Company does not use a Cash Dividends Account View transaction list View journal entry worksheet No 1 General Journal Credit Date January 01, 2020 Organization expenses Common shares Debit 11,800 11 Ann b. Prepare the equity section of Westby's balance sheet at January 31, 2020. WESTBY CORP. Equity Section of the Balance Sheet January 31, 2020 Common shares, unlimited shares authorized, 20,000 shares issued and outstanding Retained earnings 258,500 151,320 Total equity $ 409,820 c. What was the average issue price per common share? (Round your answer to 2 decimal places.) Average issue price S 12.92 per share

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!