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    Assignmnet Chapter 13

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    Nicolas Ernesto
    The document provides journal entries for transactions involving treasury shares. It records the purchase and sale of treasury shares and the related impacts to cash, treasury shares, and retained earnings accounts over multiple periods. An equity section also shows the balances of share capital, share premium, treasury shares, and retained earnings accounts at the end of the year.

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    Assignmnet Chapter 13

    Uploaded by

    Nicolas Ernesto
    44 views12 pages
    The document provides journal entries for transactions involving treasury shares. It records the purchase and sale of treasury shares and the related impacts to cash, treasury shares, and retained earnings accounts over multiple periods. An equity section also shows the balances of share capital, share premium, treasury shares, and retained earnings accounts at the end of the year.

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    Assignmnet chapter 13

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    The document provides journal entries for transactions involving treasury shares. It records the purchase and sale of treasury shares and the related impacts to cash, treasury shares, and retained earnings accounts over multiple periods. An equity section also shows the balances of share capital, share premium, treasury shares, and retained earnings accounts at the end of the year.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    44 views12 pages

    Assignmnet Chapter 13

    Uploaded by

    Nicolas Ernesto
    The document provides journal entries for transactions involving treasury shares. It records the purchase and sale of treasury shares and the related impacts to cash, treasury shares, and retained earnings accounts over multiple periods. An equity section also shows the balances of share capital, share premium, treasury shares, and retained earnings accounts at the end of the year.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 12

    EXERCISE 13.

    Sorocaba Co.
    Journalized
    Date Titles and Explanation Ref
    Mar-02 Organization Expense
    Share Capital-Ordinary
    (5,000 * $1)
    Share Premium-Ordinary

    Jun-12 Cash
    Share Capital-Ordinary
    (60,000 * $1)
    Share Premium-Ordinary

    Jul-11 Cash
    (1000 * R$110)
    Share Capital-Preference
    (1,000 * R$1,00)
    Share Premium-Preference
    (1,000 * R$10)

    Nov-28 Treasury Shares


    Cash
    Dr Cr
    44000

    5000
    39000

    468000
    60000
    408000

    110000

    100000

    10000

    18000
    18000
    A
    Exercise 13.8 Bergin ASA
    Journalization at the end you 2020
    Date Titles & Explanation Ref Dr
    Mar-01 Treasury Shares 600000
    (50,000 * 12)
    Cash

    Jul-01 Cash 140000


    (10,000 * 14)
    Treasury Shares
    (10,000 * 12)
    Share Premium-Treasury
    (10,000 * 2)

    Sep-01 Cash 80000


    (8,000 * 10)
    Share Premium-Treasury 8000
    (8,000 * $1)
    Treasury Shares
    B
    Titles Dr
    Cash 72000
    Cr (8,000 * $9)
    Share Premium-Treasury 20000
    Retained Earnings 4000
    600000 Treasury Shares
    (8,000 * $12)

    120000

    20000

    88000
    Cr

    96000
    Exercise 13.3

    Punjab Limited
    Journal Issuance Ordinary Shares
    Date Titles & Explanations Ref
    10-Jan Cash
    (70,000 * Rs5)
    Share Capital-Ordinary

    Jul-01 Cash
    (30,000 * Rs7)
    Share Capital-Ordinary
    (30,000 * Rs5)
    Share Premium-Ordinary
    (30,000 * Rs2)
    Punjab Limited
    ry Shares Journal Issuance Ordinary Sha
    Dr Cr Date
    350000 10-Jan

    350000

    210000

    150000
    Jul-01
    60000
    Punjab Limited
    Journal Issuance Ordinary Shares
    Titles & Explanations Ref Dr Cr
    Cash 350000
    (70,000 * Rs5)
    Share Capital-Ordinary 70000
    (70,000 * Rs1)
    Share Premium-Ordinary 280000
    (70,000 * Rs 4)

    Cash 210000
    (30,000 * Rs7)
    Share Capital-Ordinary 30000
    (30,000 * Rs1)
    Share Premium-Ordinary 180000
    (30,000 * Rs6)
    Problem 13.2

    A.
    Elston Limited
    Journal Treasury Shares
    Date Account & Titles Ref Dr
    Mar-01 Treasury share 45000
    (5,000 * 9)
    Cash

    Jun-01 Cash 6000


    (500 * 12)
    Treasury Share
    (500 * 9)
    Premium Treasury
    (500 * 3)

    Sep-01 Cash 25000


    (2,500 * 10)
    Treasury Shares
    (2,500 * 9)
    Share Premium-Treasury
    (2,500 * 1)

    Dec-01 Cash 6000


    (1,000 * 6)
    Share Premium-Treasury 3000
    (1,000 * 3)
    Treasury Shares
    (1,000 * 9)

    31-Dec Income Summary 34000


    Retained Earnings
    B.
    Share Premium-Treasury
    Date Explanation Ref Dr
    Cr Jun-01
    Sep-01
    Dec-01 3000
    45000

    Treasury Shares
    Date Explanation Ref Dr
    4500 Mar-01 45000
    Jun-01
    1500 Sep-01
    Dec-01

    Retained Earnings
    22500 Date Explanation Ref Dr
    Jan-01 Balance
    2500 Dec-31

    9000

    34000
    C.
    m-Treasury Equity
    Cr Balance Share Capital-Ordinary, $5 par
    1500 1500 Share Issued ( 80,000 )
    2500 4000 Outstanding ( 79,000 )
    1000 Share Premium-Ordinary
    Share Premium-Treasury
    Retained earnings
    hares Less: Treasury Shares ( 1,000 )
    Cr Balance Total Equity
    45000
    4500 40500
    22500 18000
    9000 9000

    rnings
    Cr Balance
    100000
    34000 134000
    dinary, $5 par

    400000
    200000
    1000
    134000
    9000
    726000

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