A14-2 Share Issuance (LO 14-2) Holimont Ltd. (HL) has unlimited no-par common shares authorized. The following transactions took place in the first year. a. To record authorization of shares by board of directors (memorandum). b. Issued 130,000 shares at $40; collected cash in full and issued the shares. Share issue costs amounted to $47,000. Treat this amount as a reduction of the common share account. c. Received subscriptions for 65,000 shares at $50 per share: collected 70% of the subscription price. The shares will not be issued until collection of cash in full. d. Issued 800 shares to a lawyer in payment for legal fees related to trademark registration. The lawyer estimates that the legal services provided would have been worth $40,000. e. Issued 26,000 shares and assumed an $130,000 mortgage in total payment for a building with a fair value of $260,000. f. Collected balance on subscriptions receivable in (c). Required: 1. Journalize the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 12 3 4 5 6 7 8 Required: 1. Journalize the above transactions. (If no entry is required for a transaction/event, select "No account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 Record the authorization of shares Note: Enter debits before credits. Transaction a 4 8 General Journal Debit Credit Prev 9 of 10 Ne BN account field.) View transaction list sactions. (If no entry is required for a transaction/event Journal entry worksheet < 1 3 4 5 6 7 8 Record the issue of shares. Note: Enter debits before credits. Transaction General Journal Debit Credit b(1) Prev 9 of 10 the above transactions. (If no entry is required for a transaction/event, s account field.) View transaction list Journal entry worksheet < 1 2 Gw Record share issue costs. Note: Enter debits before credits. Transaction b(2) 4 5 6 7 8 General Journal Debit Credit Prov 9 of 10 1. Journalize the above transactions. (If no entry is required for a transaction/event, s account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 Record receipt of subscription. Note: Enter debits before credits. Transaction 8 General Journal Debit Credit View transaction list Journal entry worksheet < 1 2 3 4 6 7 8 Record payment of legal fee by issuing shares. Note: Enter debits before credits. Transaction General Journal Debit Credit View transaction list Journal entry worksheet < 1 2 3 4 5 7 8 Record the acquistion of building by issue of shares and acceptance of mortgage. Note: Enter debits before credits. Transaction e General Journal Debit Credit View transaction list Journal entry worksheet < 1 2 3 4 5 6 8 CO Record collection of balance subscription. Note: Enter debits before credits. Transaction f(1) General Journal Debit Credit View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 Record the entry for issuance of shares. Note: Enter debits before credits. Transaction f(2) General Journal Debit Credit