Sandhill Technologies Inc. reported the following information related to its shareholders equity on January 1:...
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Accounting
Sandhill Technologies Inc. reported the following information related to its shareholders equity on January 1:
Common shares, 1,200,000 authorized, 600,000 shares issued
$1,800,000
Contributed surplusreacquisition of common shares
14,160
Retained earnings
714,000
During the year, the following transactions related to common shares occurred in the order listed:
1.
Issued 38,000 shares at $4.00 per share.
2.
Reacquired 10,800 shares at $3.00 per share.
3.
Issued 4,900 shares at $4.60 per share.
4.
Reacquired 18,900 shares at $4 per share.
5.
Reacquired 74,300 shares at $3 per share.
If the number of shares authorized = 1,200,000 and the number of shares issued = 538,900. Determine the ending balances in each of the following accounts: Common Shares, Contributed SurplusReacquisition of Common Shares, and Retained Earnings. (Round the average issue price to two decimal places, e.g. 5.27 and final answers to 0 decimal places, e.g. 5,271.)
Common shares
$
Contributed Surplusreacquisition of Common shares
$
Retained earnings
$
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