Reference no: EM132717428
TedWard Trims Limited was incorporated on June 1, 2017. The company is authorized to issue an unlimited number of preferred and common shares. The company entered into the following transactions during its fiscal year ending December 31, 2018:
July 10 Issued 100,000 common shares for $14.50 per share.
July 15 Issued 400,000 shares for $15.25 per share.
Sept. 30 Issued 30,000 shares in return for a warehouse. The common shares were trading for $15.75 on the date the warehouse was acquired. The assessed value of the warehouse on that date was $600,000.
March 16 Issued 1,000 Class A no par value preferred shares for $95 per share.
May 10 Reacquired 65,000 common shares for $14 per share.
Jun 27 Issued 2,000 shares of Class B $80 par value preferred shares for $90 per share.
Instructions
Problem 1: Record the above transactions on the Template provided.
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