On April 7, 2017, Mo’s Motor Corp. had a balance of $442,000 in its Common Shares account and the total number of shares issued was 34,000. On April 8, 2017, Mo’s paid $20,900 to reacquire 1,900 shares. On November 22, 2017, the company paid $49,300 to reacquire 3,400 shares. On December 30, the company issued 5,500 shares for $17.00 per share.

a) Determine the average per share amount on April 7 and November 22, 2017. 

b) Record the transactions for the reacquisitions of shares and issue of shares.

c) How many common shares remain at the end of the year?

Answer rating: 100% (QA)

a Use the following formula to calculate the average per share amount on April 7 and November 22 201... View the full answer