The balance in Common Shares on January 1,2017,and December 31,2017,is respectively $145,000 and $172,500.During the year,$57,000 repurchase of shares was recorded.During the year,shares were issued.The proceeds from the issue of shares amounted to:

Question

Quizplus · Accepted Answer

The increase in common shares from January 1 to December 31 is $172,500 - $145,000 = $27,500. Since $57,000 worth of shares were repurchased, the proceeds from the issue of shares must have been $27,500 + $57,000 = $84,500.

The Balance in Common Shares on January 1,2017,and December 31,2017,is