On January 1, 2020, Automatic Train Corporation had 30,000 common shares outstanding issued at $10 each. On June 1, 2020, Automatic Train Corporation issued 12,000 shares of its common shares at $15 per share. On November 30, 2020, Automatic Train Corporation repurchased 3,000 shares of its common shares for $17 per share. The balance in Common shares on December 31, 2020, as shown on the statement of shareholders' equity, is:
A) $445,714
B) $480,000
C) $429,000
D) $445,200

Question

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The Answer of On January 1, 2020, Automatic Train Corporation had 30,000 common shares outstanding issued at $10 each. On June 1, 2020, Automatic Train Corporation issued 12,000 shares of its common shares at $15 per share. On November 30, 2020, Automatic Train Corporation repurchased 3,000 shares of its common shares for $17 per share. The balance in Common shares on December 31, 2020, as shown on the statement of shareholders' equity, is:
A) $445,714
B) $480,000
C) $429,000
D) $445,200

On January 1, 2020, Automatic Train Corporation Had 30,000 Common