Cal Cookie Company (CCC)has 100 million shares of $1 par common stock authorized.The transactions below caused changes in CCC's outstanding shares.
January 4,2016: Repurchased and retired 1 million shares at $8 per share.
June 25,2016: Repurchased and retired 2 million shares at $2 per share.
Prior to the transactions,CCC's shareholders' equity included the following:
Required:
Record entries for the above transactions.
Definitions:
Minimal Risks
Refers to the probability and magnitude of harm or discomfort anticipated in research not being greater than those ordinarily encountered in daily life or during routine physical or psychological examinations.
Justice
The principle of fairness where individuals are treated ethically and without bias, accorded their due rights and punishment.
Fair Distribution
The equitable allocation of resources or opportunities among members of a group.
Non-Maleficence
A fundamental principle in bioethics that obligates healthcare providers to avoid causing harm to patients.
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