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  • Chinook Corporation Started The Year Ended November 30 2015 With

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    Miroslav Gegoski
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    Chinook Corporation started the year ended November 30, 2015 with 60,000 common shares and no preferred shares issued. During the year, the company issued 15,000 common shares for $225,000 in February, 20,000 $1 cumulative preferred shares for $500,000 in September, and 6,000 common shares in exchange for land worth $115,000 in November. The company reported a profit of $351,250 for the year.

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    Chinook Corporation Started the Year Ended November 30 2015 With

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    Chinook Corporation Started the Year Ended November 30 2015 With

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    Chinook Corporation started the year ended November 30, 2015 with 60,000 common shares and no preferred shares issued. During the year, the company issued 15,000 common shares for $225,000 in February, 20,000 $1 cumulative preferred shares for $500,000 in September, and 6,000 common shares in exchange for land worth $115,000 in November. The company reported a profit of $351,250 for the year.

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    © All Rights Reserved
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    7 views1 page

    Chinook Corporation Started The Year Ended November 30 2015 With

    Uploaded by

    Miroslav Gegoski
    Chinook Corporation started the year ended November 30, 2015 with 60,000 common shares and no preferred shares issued. During the year, the company issued 15,000 common shares for $225,000 in February, 20,000 $1 cumulative preferred shares for $500,000 in September, and 6,000 common shares in exchange for land worth $115,000 in November. The company reported a profit of $351,250 for the year.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    Chinook Corporation started the year ended November 30

    2015 with #8656


    Chinook Corporation started the year ended November 30, 2015, with 60,000 common shares
    and no preferred shares issued. The following changes in share capital occurred during the
    year:Feb. 28 Issued 15,000 common shares for $225,000.Sept. 1 Issued 20,000 $1 cumulative
    preferred shares for $500,000.Nov. 1 Issued 6,000 common shares in exchange for land. The
    shares were trading for $20 on this date and the fair value of the land was $115,000.30
    Reported profit of $351,250.30 Declared the quarterly cash dividend to the preferred
    shareholders of record on December 16, payable on December 31.Instructions(a) Calculate the
    profit available for the common shareholders.(b) Calculate the weighted average number of
    common shares for the year.(c) Calculate the earnings per share for the year.View Solution:
    Chinook Corporation started the year ended November 30 2015 with

    ANSWER
    http://paperinstant.com/downloads/chinook-corporation-started-the-year-ended-
    november-30-2015-with/

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