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    Quiz 8 Answer

    Uploaded by

    kingofkins04

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Quiz 8 Answer

    Uploaded by

    kingofkins04
    4 views2 pages

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

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    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    4 views2 pages

    Quiz 8 Answer

    Uploaded by

    kingofkins04

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 2

    2021

    Jan-05 Cash 1,250,000.00


    Oridinary Share 1,000,000.00
    Share Premium - Ordinary 250,000.00

    Jan-16 Cash 875,000.00


    Preference Share 500,000.00
    Share Premium - Preference 375,000.00

    Feb-01 Subscriptions Receivable - Ordinary 700,000.00


    Ordinary Shares Subscribed 500,000.00
    Share Premium - Ordinary 200,000.00

    Cash 350,000.00
    Subscriptions Receivable - Ordinary 350,000.00

    Apr-24 Treasury Share 400,000.00


    Cash 400,000.00

    Jul-02 Cash 210,000.00


    Subscriptions Receivable - Ordinary 210,000.00

    Jul-03 Cash 264,000.00


    Treasury Share 240,000.00
    Share Premium - Treasury 24,000.00

    Jul-11 Receivable from Highest Bidder 5,000.00


    Interest Revenue 5,000.00

    Receivable from Highest Bidder 10,000.00


    Cash 10,000.00

    Jul-14 Cash 155,000.00


    Receivable from Highest Bidder 15,000.00
    Subscriptions Receivable - Ordinary 140,000.00

    Ordinary Shares Subscribed 500,000.00


    Ordinary Share 500,000.00

    Dec-31 Income Summary 2,500,000.00


    Retained Earnings 2,500,000.00

    2022
    Aug-05 Merchandise Inventory 20,000.00
    Retained Earnings 20,000.00
    Aug-09 Cash 90,000.00
    Share Premium - Treasury 10,000.00
    Treasury Share 100,000.00

    Sep-04 Cash 525,000.00


    Ordinary Share 300,000.00
    Share Premium - Ordinary 225,000.00

    Oct-19 Ordinary Share 30,000.00


    Share Premium - Ordinary 7,500.00
    Share Premium - Treasury 14,000.00
    Retained Earnings 8,500.00
    Treasury Share 60,000.00

    Oct-28 Retained Earnings 315,500.00


    Cash Dividends Payable 315,500.00

    Dec-02 Retained Earnings 230,100.00


    Share Distributable - Ordinary 177,000.00
    Share Premium - Ordinary 53,100.00

    Dec-24 Cash Dividends Payable 315,500.00


    Cash 315,500.00

    Dec-31 Income Summary 1,300,000.00


    Retained Earnings 1,300,000.00

    2023
    Feb-14 Share Distributable - Ordinary 177,000.00
    Ordinary Share 177,000.00

    Apr-09 Cash 775,000.00


    Ordinary Share 500,000.00
    Share Premium - Ordinary 275,000.00

    Jun-12 Retained Earnings 611,750.00


    Share Distributable - Ordinary 611,750.00

    Aug-21 Share Distributable - Ordinary 611,750.00


    Ordinary Share 611,750.00

    Dec-31 Income Summary 1,900,000.00


    Retained Earnings 1,900,000.00

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