In: Accounting
What Account Titles do I use to record these transactions??? ALSO I HAVe to Keep a running balance of the average per share amount of the common shares.
On January 1, 2017, 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.