Prepare general journal entries for the following independent events. Issued 50 000 ordinary shares at a $1.20
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Issued 50 000 ordinary shares at a $1.20 issue price in exchange for land whose fair value was equal to value of the shares.
Issued $10 000 000 5% debentures at par and for cash.
Paid a $120 000 cash dividend on ordinary shares.
Sold goods for $50 000 cash.
Purchased inventory for $45 000 on credit.
Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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