On 1 January 2016 Otter Ltds share capital comprised 95 000 issued ordinary shares ($950 000) and

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On 1 January 2016 Otter Ltd’s share capital comprised 95 000 issued ordinary shares ($950 000) and retained earnings of $350 000. During the year, the following transactions occurred.

Required

(a) Prepare the journal entries to record the above transactions.

(b) Prepare the equity section of the statement of financial position as at 31 December 2016.

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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

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Question Posted: Sep 09, 2022 01:49 AM

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On 1 January 2016 Otter Ltds share capital comprised 95 000 issued ordinary shares ($950 000) and

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a April 1 Debit Cash 45000 Credit Share Capital 45000 June 15 Debit Retained Earnings 2375...View the full answer

Financial Accounting Reporting Analysis And Decision Making

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