Authorized to issue $ cumulative preferred shares and up to common shares, Smith
Company Ltd currently has $ common shares outstanding worth $ and no preferred
shares issued. The general ledger shows the opening retained earnings is $
The following transactions occurred during :
REQUIRED:
Record the relevant entries in general journal form marks
Prepare a statement of changes in equity for the year ended marks
Prepare the equity section as it would be presented in the balance sheet as at December
marks
Smith Company Inc. originally issued its common shares at $ per share and all are
outstandings as of August
REQUIRED:
Prepare general journal entries for the following:
Aug Purchased and retired common shares at $ share. marks
Sep Purchased and retired common shares at $ per share. marks
