Question
B. The following is a list of selected account balances taken from December 31, 2020 general ledger of Marcelo Corporation: Accounts PayableP1,400,000 Accounts Receivable2,357,000 Ordinary
B. The following is a list of selected account balances taken from December 31, 2020 general ledger of Marcelo Corporation:
Accounts PayableP1,400,000
Accounts Receivable2,357,000
Ordinary Share Capital1,260,000
Share Premium-Ordinary Share1,087,750
Share Premium-Preference Share92,100
Preference Share Capital500,000
Subscribed Preference Share140,000
Retained Earnings191,950
Subscription Receivable-Preference Share105,000
- Prepare a Journal entry
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
