E12.6 (LO 2) Sorocaba Co. had the following transactions during the current period. Mar. 2 Issued 5,000 R$1 par value ordinary shares to attorneys in payment of a bill for R$44,000 for services performed in helping the company to incorporate. June 12 Issued 60,000 R$1 par value ordinary shares for cash of R$468,000. July 11 Issued 1,000 R$100 value preference shares for cash at R$110 per share. Nov. 28 Purchased 2,000 treasury shares for R$18,000. par Instructions Journalize the transactions. Journalize non-cash ordinary share transactions.

E12.6 (LO 2) Sorocaba Co. had the following transactions during the current period. Mar. 2 Issued 5,000 R$1 par value ordinary shares to attorneys in payment of a bill for R$44,000 for services performed in helping the company to incorporate. June 12 Issued 60,000 R$1 par value ordinary shares for cash of R$468,000. July 11 Issued 1,000 R$100 value preference shares for cash at R$110 per share. Nov. 28 Purchased 2,000 treasury shares for R$18,000. par Instructions Journalize the transactions. Journalize non-cash ordinary share transactions.

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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Kk.348. Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: Issued 5,300 shares of common stock for cash at $23 per share. Issued 1,300 shares of common stock for cash at $26 per share. Required: Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a
EhrlichCo. had the following transactions during the current period. Mar. 2 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $40,000 for services performed in helping the company to incorporate.June 12 Issued 60,000 shares of $5 par value common stock for cash of $365,000.July 11 Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share. Aug. 15 Issued 20,000 shares of common stock for a building with an asking price of $150,000 and a fair value of $140,000Nov. 28 Purchased 2,000 shares of treasury stock for $80,000. Dec. 15 Sold 500 shares of the treasury stock for $45 per shareInstructions: 1. Journalize the transactions. 2. Prepare the stockholders' equity section of the balance sheet. Use the following example as a guide. For Retained Earnings for this example, you can use $1,050,000. Stockholders’ equity Paid-in capital: Capital stock: 9% preferred stock, $100 par value,…
Please answer asap! UPVOTE will be given! No long explanation needed. ERGO Corp. was authorized to issue 200,000 ordinary shares with ₱50 par value. The company had the following chronological transactions during the year: Issued 80,000 shares at ₱60 per share Received subscription for 24,000 shares at par Re-acquired 6,000 treasury shares at ₱65 per share Re-issued 2,400 treasury shares at ₱30 per share How many shares are outstanding at year-end?
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ASAP!! Frankwood Company Ltd. was registered with the capital of Rs.5,000,000 divided into ordinary shares at par value each. The company offered to the public 15,000 shares payable in full on application. The bank informs that 25,000 shares applications were received. The company allotted the offered shares and refunded the amount received in excess. During the year the company completed the following transactions Issued further 5,000 shares at Rs. 18 each for cash Issued 7,000 shares to the promoters at par Purchased computers for Rs.40,000 and issued 3,000 shares Purchases a piece of land and issued 50,000 shares at Rs. 15 each Required Pass journal entries for Frankwood Company Ltd
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