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January 1, 2012 - Company issues $10,000,000 of no par common shares at $10 each. DR. Cash $10,000,000 CR. Common shares $10,000,000 January 1, 2018 - Company reacquires 100,000 common shares in the open market at $8 each and cancels them immediately. There were no other capital transactions and the company had not paid any dividends. and credit On January 1, 2018, the company would debit (DR.) common shares for Type your answer here (CR.) cash for Type your answer here

January 1, 2012 - Company issues $10,000,000 of no par common shares at $10 each. DR. Cash $10,000,000 CR. Common shares $10,000,000 January 1, 2018 - Company reacquires 100,000 common shares in the open market at $8 each and cancels them immediately. There were no other capital transactions and the company had not paid any dividends. and credit On January 1, 2018, the company would debit (DR.) common shares for Type your answer here (CR.) cash for Type your answer here

EBK CFIN
EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter3: The Financial Environment: Markets, Institutions And Investment Banking
Section: Chapter Questions
Problem 16PROB
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% 5 T G B January 1, 2012 - Company issues $10,000,000 of no par common shares at $10 each. DR. Cash $10,000,000 CR. Common shares $10,000,000 January 1, 2018 - Company reacquires 100,000 common shares in the open market at $8 each and cancels them immediately. There were no other capital transactions and the company had not paid any dividends. On January 1, 2018, the company would debit (DR.) common shares for Type your answer here and credit (CR.) cash for Type your answer here Please do not round intermediary answers. Round your final answer to the nearest dollar. Do not use $ signs in your final answer. MacBook Air ← FB FO F11 F12 & 6 Y H N 7 U J M * 8 I K ( - O 9 V. O L X command O P A. option + 11 ? I " 1
Transcribed Image Text:% 5 T G B January 1, 2012 - Company issues $10,000,000 of no par common shares at $10 each. DR. Cash $10,000,000 CR. Common shares $10,000,000 January 1, 2018 - Company reacquires 100,000 common shares in the open market at $8 each and cancels them immediately. There were no other capital transactions and the company had not paid any dividends. On January 1, 2018, the company would debit (DR.) common shares for Type your answer here and credit (CR.) cash for Type your answer here Please do not round intermediary answers. Round your final answer to the nearest dollar. Do not use $ signs in your final answer. MacBook Air ← FB FO F11 F12 & 6 Y H N 7 U J M * 8 I K ( - O 9 V. O L X command O P A. option + 11 ? I " 1
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