A531-4UFS

A531-4UFS - Before preparing the shareholder's equity...

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Before preparing the shareholder's equity section at December 31, 2012, we can make journal entries of the transactions to ease the calculations of each accoutns: Name: Umme Fatema Siddique Date Journals Debit Credit Student Number: 805 936 291 1 Equipment [100 shares @ $12 per share] $1,200 Course Code/Number: ACCT 531 Common Shares [100 shares @ $2] $200 Assignment Number: 4 Contributed Surplus - Common [($12-$2)x100 shares] $1,000 2 Cash $24,500 Common Shares [1,000 shares @ $2] $2,000 Contributed Surplus - Common [($14 – $2)x1,000 shares] $12,000 Preffered Shares [100 shares @ $100] $10,000 Contributed Surplus - Preffered $500 [$24,500 – $2,000 – $12,000 – $10,000] 3 Cash $204,000 Preffered Shares [2,000 shares @ $100] $200,000 Contributed Surplus - Preffered [($102 – $100)x2,000 shares] $4,000 4 Cash $40,000 Common Shares Subscription Receivable $40,000 5 Common Shares Subscribed [10,000 shares] $20,000 Common shares $20,000 6 Common Shatres [1,000 shares @ $2 per share]
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A531-4UFS - Before preparing the shareholder's equity...

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