Reacquisition of shares
Norway Corp. originally sold 1,000,000 of its no par common shares at $ 13 a share. Later, Norway bought back 6,000 shares of these shares at $ 17 a share. Norway is incorporated under the CBCA and therefore retired these shares.
Instructions
Record the retirement of the shares.

Question

Quizplus · Accepted Answer

The Answer of Reacquisition of shares
Norway Corp. originally sold 1,000,000 of its no par common shares at $ 13 a share. Later, Norway bought back 6,000 shares of these shares at $ 17 a share. Norway is incorporated under the CBCA and therefore retired these shares.
Instructions
Record the retirement of the shares.

Reacquisition of Shares Norway Corp. Originally Sold 1,000,000 of Its No Par Common