Reference no: EM132826766

On January 1, 2021, Hum Enterprises Inc. had 64,000 common shares, recorded at $512,000. The company follows IFRS. During the year, the following transactions occurred:

Apr. 1
Issued 5,000 common shares at $10 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 $12 a share at this time.
Sep. 21
Announced a 1-for-2 reverse stock split. Shares were trading at $10 per share at the time.
Nov. 1
Issued 3,000 common shares at $22 per share.
Dec. 20
Repurchased 10,000 common shares for $20 per share. This was the first time Hum had repurchased its own shares.

Problem 1: Record each of the transactions. Keep a running balance of the average per share amount of the common shares.

Problem 2: record the last transaction (dec 20) assuming the price to reacquire the shares was $12 per share. this is the first time Hum had repurchased its own shares

Problem 3: record the last transaction (dec 20) assuming the price to reacquire the shares was $15 per share. also assume that Hum has a credit balance of 2300 in his contributed surplus-reacquisition of common shares account.