Question: please answe by using the keyboard. I have hard time understanding the hand written. Also, there couple of answers on chegg for this question but

please answe by using the keyboard. I have hard time understanding the hand written. Also, there couple of answers on chegg for this question but they have a lot of mistakes. so please explain the numberes when you write them.
thank you  please answe by using the keyboard. I have hard time understanding

During 2015. tan2 Issued 20,000 common shares in exchange for machinery fair valued at $40,000. The common shares had a market value of $1.80 per share Mays All required dividends were declared on preferred shares and a $.20 common share cash dividend was declared on common. Dividends will be distributed on Jan 2 . 2016. Separate both share classes. July 15 Retired 5,000 preferred shares at $58 per share sept25 Tilize issued 2.000 preferred shares and 1,000 common shares to an investor for $100,000. At the issue date, the market value of the preferred shares was $45 per share and the market value of the common shares was $6 per share Oct31 Talize declared and issued a 5% share dividend on the common shares. The market value of the shares at declaration date was $3.00 per share Required: 1. lournalize all the transactions for 2015 2. Prepare, in good form, the Shareholders' Equity section of the balance sheet at its year end, December 31, 2015. Net income for 2015 was $520.000. Total comprehensive income for 2015 was $650,000 which includes net income plus a gain of $130,000 of foreign exchange gains caused by foreign subsidiary. Use a proper three line title

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!