2- During its first year of operations, Sitwell SE had the following transactions pertaining to its ordinary shares. Jan. 10 Issued 80,000 shares for cash at €5 per share. Mar. 1 Issued 5,000 shares to attorneys in payment of a bill for €30,000 for services rendered in helping the company to incorporate. July 1 Issued 30,000 shares for cash at €7 per share. Sept. 1 Issued 60,000 shares for cash at €11 per share. Instructions Prepare the journal entries for these transactions, assuming that the ordinary shares have a par value of €2 per share.

2- During its first year of operations, Sitwell SE had the following transactions pertaining to its ordinary shares. Jan. 10 Issued 80,000 shares for cash at €5 per share. Mar. 1 Issued 5,000 shares to attorneys in payment of a bill for €30,000 for services rendered in helping the company to incorporate. July 1 Issued 30,000 shares for cash at €7 per share. Sept. 1 Issued 60,000 shares for cash at €11 per share. Instructions Prepare the journal entries for these transactions, assuming that the ordinary shares have a par value of €2 per share.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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