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Sheridan Ltd. had the following share transactions during its first year of operations: 6 Issued 172,000 common shares for $1.60 per share. 12 Issued 43,000 common shares for $1.85 per share. Issued 900 preferred shares for $105 per share. Issued 860,000 common shares for $2 per share. Reacquired 172,000 common shares for $1.95 per share. Dec. 30 Reacquired 129,000 common shares for $1.80 per share. Jan. Jan. Mar. 17 July 18 Nov. 17

Sheridan Ltd. had the following share transactions during its first year of operations: 6 Issued 172,000 common shares for $1.60 per share. 12 Issued 43,000 common shares for $1.85 per share. Issued 900 preferred shares for $105 per share. Issued 860,000 common shares for $2 per share. Reacquired 172,000 common shares for $1.95 per share. Dec. 30 Reacquired 129,000 common shares for $1.80 per share. Jan. Jan. Mar. 17 July 18 Nov. 17

FINANCIAL ACCOUNTING
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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Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round average per share to 2 decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 5,275. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Jan. 6 Jan. 12 Mar. 17 July 18 Nov. 17 V Account Titles Debit Credit
Transcribed Image Text:Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round average per share to 2 decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 5,275. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Jan. 6 Jan. 12 Mar. 17 July 18 Nov. 17 V Account Titles Debit Credit
Sheridan Ltd. had the following share transactions during its first year of operations: Jan. 6 Issued 172,000 common shares for $1.60 per share. Issued 43,000 common shares for $1.85 per share. Issued 900 preferred shares for $105 per share. Issued 860,000 common shares for $2 per share. Reacquired 172,000 common shares for $1.95 per share. Dec. 30 Reacquired 129,000 common shares for $1.80 per share. Jan. Mar. 12 Nov. 17 July 18 17
Transcribed Image Text:Sheridan Ltd. had the following share transactions during its first year of operations: Jan. 6 Issued 172,000 common shares for $1.60 per share. Issued 43,000 common shares for $1.85 per share. Issued 900 preferred shares for $105 per share. Issued 860,000 common shares for $2 per share. Reacquired 172,000 common shares for $1.95 per share. Dec. 30 Reacquired 129,000 common shares for $1.80 per share. Jan. Mar. 12 Nov. 17 July 18 17
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