beginning year in march if Further on March 1, it had acquired 12,000 shares from the...
beginning year in march
if
Further on March 1, it had acquired 12,000 shares from the market and had immediately
cancelled them.
do we count for this entry , if yes what is the weighted average calculation , if not , would we leave this blank
Homework Answers
A transaction was made to acquire 12,000 shares from the market and had immediately cancelled them. This means cash was first and paid and then received back by the Company. Hence the movement of cash must be recorded in the books for ensuring completeness all the transactions.
So we should count for this entry. Weighted average calculation will not apply if no shares held previously. If held, then revised cost needs to be computed and accordingly gain/loss should be accounted in the books.
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beginning year in march
if
Further on March 1, it had acquired 12,000 shares from the...
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