During its first year of operations, Millwoods Enterprises Inc. had the following transactions related to its common shares: 
Instructions
a. Journalize the share transactions.
b. Calculate the average cost of the common shares of Millwoods Enterprises Inc. at December 31.
Definitions:
Ethical Intensity
The degree of importance or impact that an ethical issue has on the stakeholders, which is determined by various factors including potential harm or benefits.
Moral Imperative
A principle or obligation that is ethically necessary or required, compelling a person to act in a certain way.
Ethical Intensity
The degree of importance or impact an ethical issue has, based on its consequences, social consensus, and probability of harm.
Federal Law
Legislation enacted by the national government of a sovereign state that applies to the entire country.
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