Sunshine Company was established some year back with an authorized capital of 500,000 Common Stocks of...
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Sunshine Company was established some year back with an authorized capital of 500,000 Common Stocks of Rs. 50 each. Required 1. Prepare journal entries in each of the following assumptions:- A) 300,000 Common Stocks are issued at par value. B) 300,000 Common Stocks are issued at 10% premium. C) 300,000 Common Stocks are issued at 5% discount. Present equity section of the stockholders in Balance Sheet under each of the above assumptions. 2. Sunshine Company was established some year back with an authorized capital of 500,000 Common Stocks of Rs. 50 each. Required 1. Prepare journal entries in each of the following assumptions:- A) 300,000 Common Stocks are issued at par value. B) 300,000 Common Stocks are issued at 10% premium. C) 300,000 Common Stocks are issued at 5% discount. Present equity section of the stockholders in Balance Sheet under each of the above assumptions. 2.
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Answer rating: 100% (QA)
2201 B Balance Sheet Extract Particulars 1 EQUITY AND LIABILITIES Shareholders Fund a Share Cap... View the full answer
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Posted Date:
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