Monty Ltd. was incorporated on January 1, 2022. During the year the company entered into the following transactions Jan 5 Issued 60.000 common shares for $2.50 per share. Jan 20 Issued 2.500 common shares to settle legal expenses. The value of the legal expenses was $9.375 Feb 10 Issued 11.000 preferred shares for $50.00 per share Aug 12 Repurchased 15.000 common shares for $2.40 per share. Oct 1 Issued 4,900 common shares for $2.25 per share. Dec 31 Repurchased 37,500 common shares for $2.65 per share. Record the above transactions. (Credit occount titles are automatically indented when the amount is entered. Do not indent manually Record journal entries in the order presented in the problem. List all debit entries before credit entries. Round per shore to 2 decimal places, eg 5.75 and final answers to O decimal places, eg 5,275)
Monty Ltd. was incorporated on January 1, 2022. During the year the company entered into the following transactions Jan 5 Issued 60.000 common shares for $2.50 per share. Jan 20 Issued 2.500 common shares to settle legal expenses. The value of the legal expenses was $9.375 Feb 10 Issued 11.000 preferred shares for $50.00 per share Aug 12 Repurchased 15.000 common shares for $2.40 per share. Oct 1 Issued 4,900 common shares for $2.25 per share. Dec 31 Repurchased 37,500 common shares for $2.65 per share. Record the above transactions. (Credit occount titles are automatically indented when the amount is entered. Do not indent manually Record journal entries in the order presented in the problem. List all debit entries before credit entries. Round per shore to 2 decimal places, eg 5.75 and final answers to O decimal places, eg 5,275)
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 8PB: Tent Tarp Corporation is a manufacturer of outdoor camping equipment. The company was incorporated...
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