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XYZ Corp General Ledger Account Balances and Share Transactions

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XYZ Corporation's general ledger had initial account balances of $8,000 in Contributed Surplus, $270,000 in Common Shares, and $85,000 in Retained Earnings. The company then bought back and cancelled shares worth $16,000 and $6,600, sold shares generating $127,100 and $65,800, and bought back and cancelled another $50,000 worth of shares.

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XYZ Corporation's general ledger includes the following account balances: Contributed Surplus: $8,000 Common shares: $270,000 Retained Earnings: $85,000 Instructions a. Bought and cancelled 420 shares at $38 per share. b. Bought and cancelled 150 shares at $44 per share. c. Sold 3,100 shares at $41 per share. d. Sold 1,400 shares at $47 per share. Bought and cancelled 1,000 shares at $50 per share. or the toolbar, press ALT+F10(PC) or ALT+FN+F10 (Mac).

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XYZ Corp General Ledger Account Balances and Share Transactions

  • 1. XYZ Corporation's general ledger includes the following account balances: Contributed Surplus: $8,000 Common shares: $270,000 Retained Earnings: $85,000 Instructions a. Bought and cancelled 420 shares at $38 per share. b. Bought and cancelled 150 shares at $44 per share. c. Sold 3,100 shares at $41 per share. d. Sold 1,400 shares at $47 per share. Bought and cancelled 1,000 shares at $50 per share. or the toolbar, press ALT+F10(PC) or ALT+FN+F10 (Mac).