Please do not give solution in image format thanku Prepare the journal entries required to record these transactions. (Round per share value to 4 decimal places, e.g. 1.2512 and final answerto 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entryis required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.)DateSept. 30Account Titles and ExplanationDebitCredit Martinez Company had the following Shareholders' Equity accounts as of May 1, 2020:Share capital:Preferred shares, 60,000 issued and outstandingClass A common shares, 80,000 issued and outstandingClass B common shares, 460,000 issued and outstandingRetained earningsTotal shareholders' equity$747,000472,0002,691.0003,280,000$7,190,000On June 10, Martinez reacquired and cancelled 2,100 Class A common shares at a cost of $5.15 per share. On August 26, 2020,Martinez issued 4,200 Class A common shares for $9.15 each. On September 30, the company reacquired and cancelled another2,100 Class A common shares at $9.15 per share.Prepare the journal entries required to record these transactions. (Round per share value to 4 decimal places, e.g. 1.2512 and final answerto O decimal places, eg. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entryis required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.)

If the Company wants it can reacquire its own shares , it can do so at the prevailing market price…

On June 10, Martinez reacquired and cancelled 2,100 Class A common shares at a cost of $5.15 per share. On August 26, 2020, Martinez issued 4,200 Class A common shares for $9.15 each. On September 30, the company reacquired and cancelled another 2,100 Class A common shares at $9.15 per share. I Prepare the journal entries required to record these transactions. (Round per share value to 4 decimal places, e.g. 1.2512 and final answ to O decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no ent

On June 10, Martinez reacquired and cancelled 2,100 Class A common shares at a cost of $5.15 per share. On August 26, 2020, Martinez issued 4,200 Class A common shares for $9.15 each. On September 30, the company reacquired and cancelled another 2,100 Class A common shares at $9.15 per share. I Prepare the journal entries required to record these transactions. (Round per share value to 4 decimal places, e.g. 1.2512 and final answ to O decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no ent

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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