Jan 1 Authorized 500,000, AED 4 par common shares and 100,000, 5%, AED 30 par value...

 

Transcribed Image Text:

Jan 1 Authorized 500,000, AED 4 par common shares and 100,000, 5%, AED 30 par value preferred shares. Jan 22 Issued 150,000 common shares for AED 10 each. Cash Feb 19 Issued 40,000 preferred shares for AED 50 each. May 15 Issued 12,000 common shares in exchange for a machine for the company. The value of the machine is not known but the common shares are selling in the stock market for AED 13 each. September 17 Issued 9,000 preferred shares in exchange for a building, which it has a market value of AED 300,000 C 0.0 Commen Jan 1 Authorized 500,000, AED 4 par common shares and 100,000, 5%, AED 30 par value preferred shares. Jan 22 Issued 150,000 common shares for AED 10 each. Cash Feb 19 Issued 40,000 preferred shares for AED 50 each. May 15 Issued 12,000 common shares in exchange for a machine for the company. The value of the machine is not known but the common shares are selling in the stock market for AED 13 each. September 17 Issued 9,000 preferred shares in exchange for a building, which it has a market value of AED 300,000 C 0.0 Commen

Answer rating: 100% (QA)

ANSWER The machine is valued at AED 13 x 12000 AED 156000 T... View the full answer