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Record the last transaction

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Question - On January 1, 2021, Hum Enterprises Inc. had 67,000 common shares, recorded at $402,000. The company follows IFRS. During the year, the following transactions occurred:

Apr. 1 Issued 6,000 common shares at $8 per share.

June 15 Declared a 5% stock dividend to shareholders of record on September 5, distributable on September 20. The shares were trading for $10 a share at this time.

Sep. 21 Announced a 1-for-2 reverse stock split. Shares were trading at $8 per share at the time.

Nov. 1 Issued 3,000 common shares at $18 per share.

Dec. 20 Repurchased 10,000 common shares for $16 per share. This was the first time Hum had repurchased its own shares.

Record each of the transactions. Keep a running balance of the average per share amount of the common shares.

Record the last transaction (Dec. 20) assuming the price to reacquire the shares was $11 per share. This is the first time Hum had repurchased its own shares.

Reference no: EM132912809

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