Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / Question ONE 100 Marks (5 entries x 20marks each) Apex Co

Question ONE 100 Marks (5 entries x 20marks each) Apex Co

Accounting

Question ONE 100 Marks (5 entries x 20marks each) Apex Co. was organized on January 1, 2015. It is authorized to issue 55,000 shares of 6%, $100 par value preference shares, and 500,000 shares of ordinary shares with a par value of $2 per share. The following share transactions were completed during the first year. • Jan. 10 Issued 50,000 ordinary shares for cash at $8 per share. • Mar. 1 Issued 11,000 preference shares for cash at $130 per share. • Apr. 1 Issued 30,000 ordinary shares for building. The asking price of the building was $100,000; the fair value of the building was $80,000. May 1 Issued 80,000 ordinary shares for cash at $7 per share. Aug. 1 Issued 20,000 ordinary shares to lawyer in payment of their fees of $50,000 for services rendered in helping the company organize. Instructions Prepare the journal entries to record the above transactions.

Option 1

Low Cost Option
Download this past answer in few clicks

2.91 USD

PURCHASE SOLUTION

Already member?


Option 2

Custom new solution created by our subject matter experts

GET A QUOTE

Related Questions