Homework Help is Here – Start Your Trial Now!
Business
Accounting
Case study no. 1: A mumber of persons and/or companies decide to se cubscribed capital. Subsequently the shareholders deposit the subscri Ccount Homework: Based on the transactions that were recorded, fill in i Balance Sheet

Case study no. 1: A mumber of persons and/or companies decide to se cubscribed capital. Subsequently the shareholders deposit the subscri Ccount Homework: Based on the transactions that were recorded, fill in i Balance Sheet

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
The double cntry Equity Case study no. 1: A mumber of persons and/or companies decide to setup a company having a 100,000 lei subscribed capital. Subsequently the shareholders deposit the subscribed capital into the company's bank account Homework. Based on the transactions that were recorded, fill in the corresponding Ledger and Final Balance Sheet Case study no. 2: At the beginning of the financial reporting period, FINCONT Ltd. has a social capital of 2,000,000 lei (divided into 20,000 shares) and other reserves of 200,000 lei The Shareholders General Assembly approves the increase of the social capital by issuance of 4,600 new shares, as follows: a) 1,000 shares are distributed to existing shareholders due to incorporating 100,000 lei worth other reserves into the social capital; b) 3,000 shares are given to a new shareholder bringing as contribution a motor vehicle measured at a contribution value of 330,000 lei c) 600 shares are subscribed by shareholders at an issue value (price) of 110 lei/share (their mathematical book value or share book value) and collected in total at subscription into the company's current bank account. Case study no. 3: SERVAUDIT Ltd. has the following financial position at the beginning of the financial reporting period: social capital 10,000 lei (subscribed and paid in) (divided into 2,000 shares) and cash at bank 10,000 lei. The Shareholders' General Assembly approves the decrease of the social capital by one of the shareholders who owns 1,000 shares redrawing from the company. The value of his shares is paid through bank transfer. Homework: Based on the transactions that were recorded, fill in the corresponding Ledger and Final Balance Sheet.
Transcribed Image Text:The double cntry Equity Case study no. 1: A mumber of persons and/or companies decide to setup a company having a 100,000 lei subscribed capital. Subsequently the shareholders deposit the subscribed capital into the company's bank account Homework. Based on the transactions that were recorded, fill in the corresponding Ledger and Final Balance Sheet Case study no. 2: At the beginning of the financial reporting period, FINCONT Ltd. has a social capital of 2,000,000 lei (divided into 20,000 shares) and other reserves of 200,000 lei The Shareholders General Assembly approves the increase of the social capital by issuance of 4,600 new shares, as follows: a) 1,000 shares are distributed to existing shareholders due to incorporating 100,000 lei worth other reserves into the social capital; b) 3,000 shares are given to a new shareholder bringing as contribution a motor vehicle measured at a contribution value of 330,000 lei c) 600 shares are subscribed by shareholders at an issue value (price) of 110 lei/share (their mathematical book value or share book value) and collected in total at subscription into the company's current bank account. Case study no. 3: SERVAUDIT Ltd. has the following financial position at the beginning of the financial reporting period: social capital 10,000 lei (subscribed and paid in) (divided into 2,000 shares) and cash at bank 10,000 lei. The Shareholders' General Assembly approves the decrease of the social capital by one of the shareholders who owns 1,000 shares redrawing from the company. The value of his shares is paid through bank transfer. Homework: Based on the transactions that were recorded, fill in the corresponding Ledger and Final Balance Sheet.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
S Corporations
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS