Question
E12.3 (LO 2) During its first year of operations, Punjab Limited had the following transactions pertaining to its ordinary shares. Jan. 10 Issued 70,000 shares
E12.3 (LO 2) During its first year of operations, Punjab Limited had the following transactions pertaining to its ordinary shares.
Jan. 10 Issued 70,000 shares for cash at Rs50 per share.
July 1 Issued 30,000 shares for cash at Rs70 per share.
Instructions
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Journalize the transactions, assuming that the ordinary shares have a par value of Rs50 per share.
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Journalize the transactions, assuming that the ordinary shares are no-par with a stated value of Rs10 per share.
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Environmental Audits
Authors: Cliff VanGuilder
1st Edition
1938549600, 978-1938549601
