Answer to Question #320224 in Accounting for lydia

Question

150 000 ordinary shares at no par value 700 000

5% Redeemable cumulative preference shares at N$2.00 each 300 000

Shares premium account 45000

Capital redemption reserve fund 50000

Retained earnings 258000

Bank overdraft 105350

Preliminary expenses 15000

Dividends payable 15000

Underwriters commission ( on ordinary shares) 20000

Inventory 26350

Property 1450000

Equipment 755600

Required:

1.Prepare General Journal entries

2.Prepare statement of changes in equity

Answer 1

It's been a while since this question is posted here. Still, the answer hasn't been got. Consider converting this question to a fully qualified assignment, and we will try to assist. Please click the link below to proceed: Submit order