A company reported shareholders' equity on January 1 of the current year as follows: Share Capital-Ordinary, $5 par value, 1,000,000 shares authorized, 600,000 shares issued; Share Premium-Ordinary, $1,025,000; Retained Earnings, $2,850,000. Prepare journal entries to record the following transactions:

Question

A company reported shareholders' equity on January 1 of the current year as follows: Share Capital-Ordinary, $5 par value, 1,000,000 shares authorized, 600,000 shares issued; Share Premium-Ordinary, $1,025,000; Retained Earnings, $2,850,000. Prepare journal entries to record the following transactions:
A company reported shareholders' equity on January 1 of the current year as follows: Share Capital-Ordinary, $5 par value, 1,000,000 shares authorized, 600,000 shares issued; Share Premium-Ordinary, $1,025,000; Retained Earnings, $2,850,000. Prepare journal entries to record the following transactions:

Quizplus · Accepted Answer

The Answer of A company reported shareholders' equity on January 1 of the current year as follows: Share Capital-Ordinary, $5 par value, 1,000,000 shares authorized, 600,000 shares issued; Share Premium-Ordinary, $1,025,000; Retained Earnings, $2,850,000. Prepare journal entries to record the following transactions:

A Company Reported Shareholders' Equity on January 1 of the Current