Prepare the journal entry for each of the following independent transactions: a) A company issued 12,100 common
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Question:
Prepare the journal entry for each of the following independent transactions:
a) A company issued 12,100 common shares and received $2 per share on March 1, 2020.
b) A private company issued 10,800 common shares for land and a building on March 3, 2020. The land was valued at $66,000 and the building was valued at $127,000.
c) A company obtained the services of an accountant. The cost of the services amounted to $4,400. The company issued common shares to the accountant as payment on March 5, 2020.
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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