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The following transactions were undertaken by Porschet Ltd during the financial year ended 30 June 2017. Ignore GST. 1. Issued ordinary shares for cash, $1,100,000.
The following transactions were undertaken by Porschet Ltd during the financial year ended 30 June 2017. Ignore GST.
1. | Issued ordinary shares for cash, $1,100,000. | |
2. | Purchased land to be held for future expansion for $1,050,000 cash. | |
3. | Paid off a long-term $370,000 loan plus interest of $31,000. | |
4. | Sold for $600,000 used cars with a carrying amount of $260,000. | |
5. | Paid cash dividends of $150,000. | |
6. | Purchased machinery factory, giving $140,000 cash and signing a mortgage loan for $460,000. | |
7. | Purchased shares in MBW Ltd to be held as an investment for $460,000 cash. | |
8. | Sold a long-term government bond, with a carrying amount of $100,000, for $173,000, including $12,000 accrued interest. | |
9. | Purchased shares in Forden Ltd to be held as a long-term investment, paying $380,000 cash. | |
10. | Issued 5% debentures for $1,400,000. |
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