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Use these Journal Entries to Help a) Dr. Cash Cr. Common Shares b) Dr. Common Shares BV Cr. Contributed Surplus Cr. Cash c) Dr. Cash
Use these Journal Entries to Help
a) Dr. Cash Cr. Common Shares
b) Dr. Common Shares BV Cr. Contributed Surplus Cr. Cash
c) Dr. Cash Cr. Preferred Shares
d) Dr. Cash Cr. Common Shares
e) Dr. Common Shares BV Dr. Contributed Surplus Dr. RE Cr. Cash
Dragon Ltd. general ledger shows the following account balances on Dec 31, 2022: Preferred shares, no par value, 8%, cumulative and participating, 1,000 issued \& outstanding 100,000 Common shares, no par value, 20,000 authorized, 6,000 issued, and outstanding 270,000 Contributed Surplus-common shares 1,000 Contributed Surplus-Preferred shares 10,000 Retained earnings Total shareholders equity 526,000145,000 Prepare Journal Entries for all parts The following transactions occurred during 2023 A) Jan 10, Issued 1,000 common shares at $25 per share for cash B) Feb 8, Bought and canceled 200 common shares at $20 per share C) Issued 1,000 preferred shares for $10 per share cash D) Mar 9, Issued 200 common shares at $40 per share for cash E) Apr 9, Bought and canceled 200 common shares at $50 per share
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