Tan 2022: The 0 Rec 1. Contributed capital Preferred shares, $2.00, cumulative (1 year in arrears), liquidation price of $20, 100,000 shares authorized, 17,000 shares issued and outstanding $ 272,000 Common shares, unlimited number of shares 221,000 authorized, 26,000 shares issued and outstanding 2. Total contributed capital 493,000 570,000 Retained earnings Total shareholders' equity $ 1,063,000 redit Ma Print Done 53,760 July 4. Repurchased 4,200 of the company's own common shares at $6.75 per share. (Hold all decimals in interim calculations. Round your final answer to the nearest whole dollar.) Date July 4 Accounts Common Shares Cash Contributed Surplus-Share Repurchase Debit Credit 28,350
Tan 2022: The 0 Rec 1. Contributed capital Preferred shares, $2.00, cumulative (1 year in arrears), liquidation price of $20, 100,000 shares authorized, 17,000 shares issued and outstanding $ 272,000 Common shares, unlimited number of shares 221,000 authorized, 26,000 shares issued and outstanding 2. Total contributed capital 493,000 570,000 Retained earnings Total shareholders' equity $ 1,063,000 redit Ma Print Done 53,760 July 4. Repurchased 4,200 of the company's own common shares at $6.75 per share. (Hold all decimals in interim calculations. Round your final answer to the nearest whole dollar.) Date July 4 Accounts Common Shares Cash Contributed Surplus-Share Repurchase Debit Credit 28,350
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
i need the answer quickly
![Tan
2022:
The
Contributed capital
Preferred shares, $2.00, cumulative (1 year in
arrears), liquidation price of $20, 100,000 shares
authorized, 17,000 shares issued and outstanding $ 272,000
Common shares, unlimited number of shares
Red
221,000
authorized, 26,000 shares issued and outstanding.
1.
2.
Total contributed capital
493,000
570,000
Retained earnings
Total shareholders' equity
$ 1,063,000
redit
Ma
Print
Done
53,760
July 4. Repurchased 4,200 of the company's own common shares at $6.75 per share. (Hold all decimals in
interim calculations. Round your final answer to the nearest whole dollar.)
Date
July 4
Accounts
Common Shares
Cash
Contributed Surplus-Share Repurchase
Debit
Credit
28,350](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1a3c1764-935d-4f07-a873-e76e151cf6b5%2F6c8d54d1-0c0b-489d-a8e5-007b80100ec1%2Fqbcj00o_processed.png&w=3840&q=75)
Transcribed Image Text:Tan
2022:
The
Contributed capital
Preferred shares, $2.00, cumulative (1 year in
arrears), liquidation price of $20, 100,000 shares
authorized, 17,000 shares issued and outstanding $ 272,000
Common shares, unlimited number of shares
Red
221,000
authorized, 26,000 shares issued and outstanding.
1.
2.
Total contributed capital
493,000
570,000
Retained earnings
Total shareholders' equity
$ 1,063,000
redit
Ma
Print
Done
53,760
July 4. Repurchased 4,200 of the company's own common shares at $6.75 per share. (Hold all decimals in
interim calculations. Round your final answer to the nearest whole dollar.)
Date
July 4
Accounts
Common Shares
Cash
Contributed Surplus-Share Repurchase
Debit
Credit
28,350
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education