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As at December 31, 2022, Bramble Ltd., a public company, had 52,000 common shares outstanding. During 2023, Bramble had the following transactions: 1. 2. 3. Issued 5,000 common shares at $25 per share, less $5,000 in costs related to the issuance of the shares. Issued 4,710 common shares for land appraised at $155,590. The closing price for the shares traded on the TSX was $29 per share on the date of issuance. Purchased and retired 700 of the company's shares at $23 per share. The repurchased shares have an average issue price per share of $26. (a) Prepare the journal entries to record the three transactions listed. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 1. No. Account Titles and Explanation Debit Credit

As at December 31, 2022, Bramble Ltd., a public company, had 52,000 common shares outstanding. During 2023, Bramble had the following transactions: 1. 2. 3. Issued 5,000 common shares at $25 per share, less $5,000 in costs related to the issuance of the shares. Issued 4,710 common shares for land appraised at $155,590. The closing price for the shares traded on the TSX was $29 per share on the date of issuance. Purchased and retired 700 of the company's shares at $23 per share. The repurchased shares have an average issue price per share of $26. (a) Prepare the journal entries to record the three transactions listed. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 1. No. Account Titles and Explanation Debit Credit

FINANCIAL ACCOUNTING
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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As at December 31, 2022, Bramble Ltd., a public company, had 52,000 common shares outstanding. During 2023, Bramble had the following transactions: 1. 2. 3. Issued 5,000 common shares at $25 per share, less $5,000 in costs related to the issuance of the shares. Issued 4,710 common shares for land appraised at $155,590. The closing price for the shares traded on the TSX was $29 per share on the date of issuance. Purchased and retired 700 of the company's shares at $23 per share. The repurchased shares have an average issue price per share of $26. (a) Prepare the journal entries to record the three transactions listed. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 1. No. Account Titles and Explanation Debit Credit
Transcribed Image Text:As at December 31, 2022, Bramble Ltd., a public company, had 52,000 common shares outstanding. During 2023, Bramble had the following transactions: 1. 2. 3. Issued 5,000 common shares at $25 per share, less $5,000 in costs related to the issuance of the shares. Issued 4,710 common shares for land appraised at $155,590. The closing price for the shares traded on the TSX was $29 per share on the date of issuance. Purchased and retired 700 of the company's shares at $23 per share. The repurchased shares have an average issue price per share of $26. (a) Prepare the journal entries to record the three transactions listed. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 1. No. Account Titles and Explanation Debit Credit
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