Share capital: Preferred shares, 50,000 issued and outstanding Class A common shares, 260,000 issued and outstanding Class B common shares, 320,000 issued and outstanding Retained earnings Total shareholders' equity $617,500 1,495,000 1,680,000 3,255,000 $7,047,500 On June 10, Flounder reacquired and cancelled 1,100 Class A common shares at a cost of $4.50 per share. On August 26, 2020, Flounder issued 2,200 Class A common shares for $9.15 each. On September 30, the company reacquired and cancelled another 1,100 Class A common shares at $9.15 per share.
Share capital: Preferred shares, 50,000 issued and outstanding Class A common shares, 260,000 issued and outstanding Class B common shares, 320,000 issued and outstanding Retained earnings Total shareholders' equity $617,500 1,495,000 1,680,000 3,255,000 $7,047,500 On June 10, Flounder reacquired and cancelled 1,100 Class A common shares at a cost of $4.50 per share. On August 26, 2020, Flounder issued 2,200 Class A common shares for $9.15 each. On September 30, the company reacquired and cancelled another 1,100 Class A common shares at $9.15 per share.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Plese help me with those boxes are red which are incorrect
Transcribed Image Text:June 10 V
Aug. 26
Sept. 30
Common Shares
Contributed Surplus
Cash
Cash
Common Shares
Common Shares
Contributed Surplus
Retained Earnings
Cash
6325
20130
6325
1100
1375
1375
4950
20130
8800
Transcribed Image Text:Share capital:
Preferred shares, 50,000 issued and outstanding
Class A common shares, 260,000 issued and outstanding
Class B common shares, 320,000 issued and outstanding
Retained earnings
Total shareholders' equity
$617,500
1,495,000
1,680,000
3,255,000
$7,047,500
On June 10, Flounder reacquired and cancelled 1,100 Class A common shares at a cost of $4.50 per share. On August 26, 2020,
Flounder issued 2,200 Class A common shares for $9.15 each. On September 30, the company reacquired and cancelled another 1,100
Class A common shares at $9.15 per share.
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