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ASAP, final answer only, direct thumpsup;) Question 15 Cole Corporation issues 15,000 preference shares with a $50 par value for cash at $60 per share.
ASAP, final answer only, direct thumpsup;) 
Question 15 Cole Corporation issues 15,000 preference shares with a $50 par value for cash at $60 per share. The entry to record the transaction will consist of a debit to Cash for $900,000 and a credit or credits to Share Premium for $900,000. Share Capital - Preference for $750,000 and Retained Earnings for $150,000. Share Capital-Preference for $900,000. Share Capital-Preference for $750,000 and Share Premium-Preference for $150,000 Step by Step Solution
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Accounting Information And Equity Valuation Theory, Evidence, And Applications
Authors: Guochang Zhang
1st Edition
1461481597, 9781461481591
