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On January, the 1st 2015 the private company XYZ SA is founded by three shareholders. The subscribed capital amounts to 100.000 lei and is divided
On January, the 1st 2015 the private company XYZ SA is founded by three shareholders. The subscribed capital amounts to 100.000 lei and is divided into 100 shares of 1,000 lelcach Shareholder X subscribes 40 shares in cash. Shareholder Y subscribes 30 shares of which 20 are paid in cash and a sofware for the balance of the other 10. Shareholder Z subscribes 30 shares of which 20 shares are paid in cash and 10 shares represent the value of a pattern. The cash contributions are paid at the end of January and the contribution in kind is made upon subscription, in december 20x5 additional 60 shares are issued and sold for 1.100 lei/share. Required: Provide the journal entries and the effects in the annual financial statements for the capital contribution to Company XYZ SA TH 5
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