$240,000 79,850 Exercise 13-6 Retirement of shares Lo2 CHECK FIGURE: C. Dr. Common Shares: 3,750...
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$240,000 79,850 Exercise 13-6 Retirement of shares Lo2 CHECK FIGURE: C. Dr. Common Shares: 3,750 Information taken from Nanotec Security Inc.'s January 31, 2020, balance sheet follows: Common shares, 400.000 shares authorized, 32,000 shares issued and outstanding... Retained carnings..... On February 1, 2020, the company repurchased and retired 500 common shares (the first retirement the company has recorded) Required Prepare general journal entries to record the repurchase and retirement under each of the following independent assumptions The shares were repurchased for: a. $5.00 per share b. $7.50 per share C. $10.00 per share
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