South Island Skiwear Ltd was registered on 5 January 2016. The following private share issues were completed
Question:
South Island Skiwear Ltd was registered on 5 January 2016. The following private share issues were completed during the first year:
Required
(a) Journalise the transactions.
(b) Post to the Share Capital account. (Use T accounts.)
(c) Calculate the share capital at 31 December 2016.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
a Jan 10 Dr Cash 90000 Cr Share Capital 90000 Mar 1 Dr Cash 7500 Cr Share Capital 7500 ...View the full answer
Answered By
Hande Dereli
Enthusiastic tutor, skilled in ACT and SAT tutoring. Raised one student's score on the SATs from 1100 combined to 1400. Graduated with a 3.9 GPA from Davidson College and led a popular peer tutoring group for three years. Scored in the top 0.06% in the nation on the SATs. The real reason I'm the one to help you nail the test? Results. Clients invariably praise my ability to listen and communicate in a low-stress, fun way. I think it's that great interaction that lets me raise retest SAT scores an average of 300 points.
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Accounting Reporting Analysis And Decision Making
ISBN: 9780730313748
5th Edition
Authors: Shirley Carlon, Rosina Mladenovic Mcalpine, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong
Question Posted:
Students also viewed these Business questions
-
Young Ltd was registered on 3 January 2016. The following private share issues were completed during the first year: Required (a) Journalise the transactions. (b) Post to the Share Capital account....
-
The following selected transactions were completed during the first year of operations: Jan. 3 Issued 15,000 shares of common stock at $23 per share for cash. 31 Issued 200 shares of common stock to...
-
Morning Star Ltd was registered on 1 July 2019, as a company with a constitution limiting the shares that could be offered to 5 000 000 Ordinary shares (including all classes) and 2 000 000...
-
prepare a post-closing trial balance. Cash Account Titles Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Owner's Capital Owner's Drawings Service Revenue Salaries and Wages...
-
You read in a newspaper that the owners of capital in a particular country are urging their government to restrict trade through import quotas. What might you infer about the relative factor...
-
A logging company obtains its cost information by dividing total cost by the number of board feet of lumber produced. The company's president states that money is lost on every foot of low-grade...
-
Using the provided code for performing Gibbs sampling for binary GP classification, compute the \(\hat{R}\) value for one of the training latent function values. How many samples need to be drawn...
-
An adult takes about 12 breaths per minute inhaling roughly 500mL of air with each breath. The molar compositions of the inspired and expired gases are as follows: The inspired gas is at 24?C and 1...
-
I would like some help with my assignment. Step one: Using the additional information and the worksheet provided, record the year-end adjustments in the Adjustments column and extend all amounts to...
-
Are the following statements true or false? Explain your reasoning. a. "If we see a standardized z-value beyond 63, the variable cannot be normally distributed." b. "If X and Y are two normally...
-
The following section is taken from Silk Ltds statement of financial position at 31 December 2016. Additional information: 1. Equity was $5 225 000 at 31 December 2015. 2. Silk Ltds profit for the...
-
The average shareholders equity of Jonty James Ltd was $500 000 for the year ended 30 June 2016. During that year, Jonty James Ltd had a profit of $90 000 and declared cash dividends of $20 000....
-
Do you think that impression management strategies are ethical? Why or Why not? Can you think of situations where these tactics could be abused?
-
What is the present value of $3,000 per year for 9 years discounted back to the present at 11 percent?
-
The next year the common stock of Gold Corp. will pay a dividend of $6.35 per share. If the company is growing at a rate of 5.43 percent per year, and your required rate of return is 13.49 percent,...
-
Minnie wants to buy a home. She contacts the owner of a potential property that she likes. While Minnie is not sure that the home is for her, she wants to prevent someone else from buying the...
-
As employees health changes, they may miss work due to illness or injury increasing healthcare cost for employees and employers. Furthermore, employees may be less productive while at work due to...
-
Camembert's commercial paper is currently selling at a discount. It sells for 98.36 of par and matures in 85 days. a. Calculate its yield as quoted in the market. b. Calculate its effective annual...
-
The year-end financial statements of Fighting Illini Financial Services are provided below. FIGHTING ILLINI Income Statement Service revenue..........................$84,700 Expenses:...
-
Find the area of the surface generated by revolving the para- metric curve x = cos 1, y = sin? 1 (0 < I sa/2) about the y-axis.
-
What are the principal components of telecommunications networks and key networking technologies? a) Describe the features of a simple network and the network infrastructure for a large company. b)...
-
What are the different types of networks? a. Define an analog and a digital signal. b. Distinguish between a LAN, MAN, and WAN.
-
How do the Internet and Internet technology work, and how do they support communication and e-business? a) Define the Internet, describe how it works and explain how it provides business value. b)...
-
SOLDERING & BRAZING CHAPTER 4: SOLDERS, BRAZING FILLER METALS AND FLUXES NAME DATE 1. Fluxes are classified into what three general groups? 2. 4. 5. 6. 7. 8. 1. 3. A flux used for soldering and...
-
An over-the-counter market: O a. is regulated by the Reserve Bank of Australia (RBA). O b. allows investors in financial claims to trade directly among themselves. O c. has no central location. Od....
-
The ACA standards for health care plans: (A) Apply only to plans purchased through a state or federal exchange. (B) Apply only to group plans. (C) Apply on to plans purchased through a federal...
Study smarter with the SolutionInn App