Solution-What is the number and average cost of preferred

What is the number and average cost of preferred shares

Reference no: EM132350095

Question - Sipacore Ltd. was incorporated as a private company on January 2, 2018, and is authorized to issue an unlimited number of common shares and $1 preferred shares. The company had the following share transactions in its first month of operations:

Jan. 6 Issued 210,000 common shares for $1.40 per share.

Jan. 12 Issued 52,000 common shares for $1.90 per share.

Jan. 17 Issued 9,400 preferred shares for $27.00 per share.

Jan. 18 Issued 468,000 common shares for $2.00 per share.

Jan. 24 Reacquired 220,000 common shares at $1.90 per share.

Jan. 31 Issued 10,700 common shares in exchange for $16,050 of legal services.

Record the above transactions. (Round average cost per share to 3 decimal places).

What is the number and average cost of the preferred and common shares at the end of January?

Reference no: EM132350095

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What is the number and average cost of preferred shares

Reference no: EM132350095

Reference no: EM132350095

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