Question

On April 7, 2021, Mo’s Motor Corp. had a balance of $444,000 in its Common Shares...

On April 7, 2021, Mo’s Motor Corp. had a balance of $444,000 in its Common Shares account and the total number of shares issued was 37,000. On April 8, 2021, Mo’s paid $11,000 to reacquire 1,100 shares. On November 22, 2021, the company paid $36,400 to reacquire 2,600 shares. On December 30, the company issued 5,500 shares for $16.50 per share.


  
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Determine the average per share amount on April 7 and November 22, 2021. (Round answer to 2 decimal places, e.g. 15.25.)

Average per share amoun

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Answer #1

Average Value per share on APRIL 7

Average Value per share = Total Balance Amount / Total Number of shares

=$444000.00/37000

= 12.00

Average Value per share on November 22

Amount Shares
Beginning Balance 444000.00 37000
less: Shares Reacquire on April 8 and Cash paid -11000.00 -1100
Less: Shares Reacquire on November 22 and Cash paid -36400.00 -2600
Total 396600.00 33300
Average Value per share = Total Balance Amount / Total Number of shares
= 396600.00/33300 = 11.91
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