Reference no: EM133337178
Question: Fred Sons Inc. began 2019 with the following account balances: Common shares, 1,000,000 shares authorized, 225,000 issued $2,250,000 Retained earnings 590,000 A) In 2019, Fred Sons Inc.
reported the following transactions:
Jan 10 Reacquired 50,000 of its own shares for $9 per share.
Apr 15 Reacquired 25,000 of its own shares for $11 per share.
May 23 Reacquired 10,000 of its own shares for $13 per share.
30 Sold 8,000 of the reacquired shares for $15 per share.
Record journal entries for the above transactions. B) What is the average issue price as of May 30th?
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