Love Corporation provided the following data during the first year of operations: Sold 30,000 preference shares, 12%, $100 par at $140. Sold 100,000 ordinary shares of $50 par at $55. Purchased and retired 10,000 preference shares at $120. Purchased 15,000 ordinary shares at $52 to be held at treasury. Sold 10,000 treasury ordinary shares at $60. Shareholders donated to the entity 20,000 ordinary shares when shares had a market price of $60. One-half of these shares were sold for $65. Q: How much are the balances of: Ordinary Share Capital Treasury Stock Share Premium Preference Ordinary Shares Outstanding Share Premium Treasury Preference Share Capital
Love Corporation provided the following data during the first year of operations: Sold 30,000 preference shares, 12%, $100 par at $140. Sold 100,000 ordinary shares of $50 par at $55. Purchased and retired 10,000 preference shares at $120. Purchased 15,000 ordinary shares at $52 to be held at treasury. Sold 10,000 treasury ordinary shares at $60. Shareholders donated to the entity 20,000 ordinary shares when shares had a market price of $60. One-half of these shares were sold for $65. Q: How much are the balances of: Ordinary Share Capital Treasury Stock Share Premium Preference Ordinary Shares Outstanding Share Premium Treasury Preference Share Capital
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Love Corporation provided the following data during the first year of operations:
- Sold 30,000 preference shares, 12%, $100 par at $140.
- Sold 100,000 ordinary shares of $50 par at $55.
- Purchased and retired 10,000 preference shares at $120.
- Purchased 15,000 ordinary shares at $52 to be held at treasury.
- Sold 10,000 treasury ordinary shares at $60.
- Shareholders donated to the entity 20,000 ordinary shares when shares had a market price of $60. One-half of these shares were sold for $65.
Q: How much are the balances of:
- Ordinary Share Capital
Treasury Stock - Share Premium Preference
- Ordinary Shares Outstanding
- Share Premium Treasury
Preference Share Capital
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