Question: Help Save & The Data Group Inc. had the following balances in its equity accounts at December 31, 2019 Common shares, unlimited shares authorized; 180,000

 Help Save & The Data Group Inc. had the following balances
in its equity accounts at December 31, 2019 Common shares, unlimited shares
authorized; 180,000 shares issued and outstanding Retained earnings 52,880.ee 440,000 21 During
2020, the following equity transactions occurred: Apr. 15 Repurchased and retired 3,600

Help Save & The Data Group Inc. had the following balances in its equity accounts at December 31, 2019 Common shares, unlimited shares authorized; 180,000 shares issued and outstanding Retained earnings 52,880.ee 440,000 21 During 2020, the following equity transactions occurred: Apr. 15 Repurchased and retired 3,600 common shares at $14.40 per share. 1 Repurchased and retired 15,000 common shares at $17.68 per share. Nov. 1 The board of directors declared a 2:1 share split effective on this date. Required: 1. Prepare journal entries to account for the transactions during 2020 (assuming the retirements were the first ever recorded by The Data Group Inc.). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 5. Fer that 1 The board of directors declared a 2:1 share it offective on this date. Required: 1. Prepare journal entries to account for the transactions during 2020 (assuming the retirements were the first ever recorded by the Data Group Inc) (If no entry is required for a transaction/event, select "No journal entry required in the first accountfield) S. View transaction ist Journal entry worksheet > Record the purchased and retired 8,000 shares below.com Noter Enter debts before credit General Journal Debit Credit Date Apr 15 Date Amount Note Disclosure Apr 15 May 01 Nov. 01 25620 2. Prepare the company's equity section on the December 31, 2020, balance sheet, assuming a loss for the year of $144,000 THE DATA GROUP INC. Equity Section of Balance Short December 31, 2020 Contributed capital Total equity

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!