Question
QUESTION 6 (a) The Everglades Ltd has the following share transactions during 2016. Jan. 15 Issued 500,000 shares to Bombala Limited, at $7 per share.
QUESTION 6
(a) The Everglades Ltd has the following share transactions during 2016.
Jan. 15 Issued 500,000 shares to Bombala Limited, at $7 per share.
Dec. 6 Declared a $0.50 per share dividend to shareholders on record on December 20, payable January 3, 2017.
Journalise the transactions for Everglades Ltd.
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(b) Lara and Simon form a partnership on 1 July 2016. Laras contribution is $10,000 cash and $50,000 inventory. Simons contribution is $6,000 cash and land that cost $25,000 but has a market value of $50,000. Journalise the transactions to set up the partnership on 1 July 2016.
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Making Auditors Effective Theory Evidence Perspectives
Authors: Mark Schelker
1st Edition
3832934375, 978-3832934378
