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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Love Corporation provided the following data during the first year of operations:

  1. Sold 30,000 preference shares, 12%, $100 par at $140.
  2. Sold 100,000 ordinary shares of $50 par at $55.
  3. Purchased and retired 10,000 preference shares at $120.
  4. Purchased 15,000 ordinary shares at $52 to be held at treasury.
  5. Sold 10,000 treasury ordinary shares at $60.
  6. 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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