Question: please help its very short, I really need help Trans Globe Publishing Inc. was recently organized. The company issued common shares to a lawyer who

Trans Globe Publishing Inc. was recently organized. The company issued common shares to a lawyer who provided legal services of $21,000 to help organize the corporation. Trans Globe also issued common shares to an inventor in exchange for hit patent with a fair value of $90,000. In addition, Trans Globe received cash both for the issuance of 5,900 of its preferred shares at $115 per share and for the issuance of 20,000 common shares at $24 per share. During the first year of operations, Trans Globe eamed net income of $65,000 and declared a cash dividend of $30,000. Without making joumal entries, determine the total share capital created by these transactions. Trans Globe Publishing Inc. was recently organized. The company issued comm services of $21,000 to help organize the corporation. Trans Globe also issued exchange for his patent with a fair value of $90,000. In addition, Trans Globe rec 5,900 of its preferred shares at $115 per share and for the issuance of 20,000co the first year of operations, Trans Globe earned net income of $65,000 and decli making joumal entries, determine the total share capital created by these transa
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
