Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mar. 2 Issued 4,800 shares of $1 par value ordinary shares to attorneys in payment of a bill for $31.200 for services performed in helping

image text in transcribed
image text in transcribed
Mar. 2 Issued 4,800 shares of $1 par value ordinary shares to attorneys in payment of a bill for $31.200 for services performed in helping the company to incorporate June 12 issued 73.500 shares of $1 par value ordinary shares for cash of $264800 July 11 issued 1,020 shares of $100 par value preference shares for cash at $130 per share. Nov. 28 Purchased 2,160 treasury shares for $86,400. Journalize the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the accountitles and for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Mar. 2 Organization pense : Mar. 2 June 12 July 11 Nov. 28 mnt-player/products/604411-3978-4bc8-80d0-e9d76846021c/assessments/369166-821b-4d5-943 Issued 4,800 shares of $1 par value ordinary shares to attorneys in payment of a bill for $31.200 for services performed in helping the company to incor Issued 73,500 shares of $1 par value ordinary shares for cash of $264,800 issued 1,020 shares of $100 par value preference shares for cash at $130 per share. Purchased 2,160 treasury shares for $86,400. Journalize the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the amounts. Record journal entries in the order presented in the problem.) Date tion Debit Credit Mar. 2 : Cash Share Capital-Preference Organization Expense Share Premium-Ordinary Share Capital Ordinary Share Premium-Preference Treasury Shares

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Bev Vickerstaff, Parminder Johal

1st Edition

1444170414, 978-1444170412

More Books

Students also viewed these Accounting questions