Excel Please. Transactions during 2018:
3/2 Issued 5,000 shares of common stock in cash at $ 30 per share.
5/3 Repurchased 2,000 shares of common stock at $ 15 per share.
6/5 Sold 7,000 treasury shares for a total price of $ 60,000 (FIFO method)
7/15 Issued 2,000 shares of common stock, market value $ 22 per share, to acquire land for $ 32,000.
18/8 Issued 100 sheets of preferred shares, cash for a total price of $ 20,000.
12/31 Net income after tax of $ 200,000.
12/31 Dividends declared for preferred stock and common stock.

Requested:
a. Keep the necessary journal entries to record the above transactions!  complete!

b. Compose the part of shareholders' equity as of December 31, 2018 in full!.

Answer rating: 100% (QA)

Journal Entries Date Particulars Debit Credit 03Feb Cash 150000 Share Premium Ordinary 50000 Ordinar... View the full answer