The following information is relevant for Questions 18.1 and 18.2.
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- Before preparing financial statements for the current year, the chief accountant for Toso Shipping discovered the following errors in the accounts, 1. The declaration and payment of NT$50,000 cash dividend was recorded as a debit to Interest Expense NT$50,000 and a credit to Cash NT$50,000. 2. A 10% share dividend (1,000 shares) was declared on the NT$20 par value shares when the market price per share was NT$36. The only entry made was Share Dividends (Dr.) NT$20,000 and Dividend Payable (Cr.) NT$20,000. The shares have not been issued. 3. A 4-for-1 share split involving the issue of 400,000 shares of NT$5 par value ordinary shares for 100,000 shares of NT$20 par value ordinary shares was recorded as a debit to Retained Earnings NT$2,000,000 and a credit to Share Capital-Ordinary NT$2,000,000. Instructions Prepare the correcting entries at December 31.203Shamrock, Inc. issues 9,100 shares of $106 par value preferred stock for cash at $114 per share.Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when 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.) Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount
- Kingbird, Inc. issues 8,600 shares of $106 par value preferred stock for cash at $112 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when 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.) Account Titles and Explanation Debit CreditAn inexperienced accountant for Pharoah Company made the following entries. July 1 Sept. 1 Cash Common Stock (Issued 39,000 shares of no-par common stock, stated value $5 per share) Common Stock Retained Earnings Cash (Purchased 4,200 shares issued on July 1 for the treasury at $16 per share) 280,000 33.000 34,200 280,000 67,200 On the basis of the explanation for each entry, prepare the entry that should have been made for the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)A10 please help...... Show me the steps to solve part C:
- Flounder Limited issued 1,930 common shares for $61,760. (a) Prepare Flounder's journal entry if the shares have no par value. (List debit entry before credit entry. 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 O for the amounts.) Account Titles and Explanation Debit CreditA3Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.